Tiny Victorian cottage in Zone 1 listed for sale for the price of the average first London home

Offers over £475,000: this one-bedroom cottage has been listed for sale in a former school near Elephant & Castle Tube station (Stirling Ackroyd)

An entire Victorian cottage on the edge of Zone 1 has been listed for the price of the average first home in London.

A short walk from Tower Bridge Road and Maltby Street market in Bermondsey, the freehold house has an asking price of £475,000.

Of course, there’s a catch — with only 500 square feet of living space, the property is slightly smaller than a triple car garage.

The pastoral-looking home for sale through Stirling Ackroyd is part of The Paragon estate, which was once a school and was converted into housing in the 1990s.

The cottage has a mezzanine bedroom over the open-plan living space and kitchen (Stirling Ackroyd)

A mezzanine bedroom sits above the open-plan living room, bathroom and kitchen.

An added perk considering the house’s proximity to Elephant & Castle Tube station, there’s also a car parking space with electrical charging points.