Smallest castle in UK with £550k asking price on sale for same price as a one-bedroom London flat

The smallest castle in Britain is on sale for the same price as a London flat.

Grade II listed Molly’s Lodge in the Cotswolds, designed by the same architect who worked on Buckingham Palace and Westminster Abbey, is on the market for £550,000.

The beautiful 19th century one-bedroom building is surrounded by 0.61 acres of stunning grounds complete with gardens, an orchard and ornamental pond.

Buyers lucky enough to have the half a million pound asking price can snap up the Warwickshire former gatehouse, which is adorned with turrets, an embattled parapet and wrought-iron spiral staircase.

For those in London, the same amount of money would get you a one or two bedroom flat with a floor-plan area three times smaller than the rural castle.

The little castle dates from 1834 when it was designed by famed architectural artist Edward Blore, known for completing John Nash’s design of Buckingham Palace.

Blore was also the surveyor of Westminster Abbey as well as working on St James’ Palace and Lambeth Palace.

Estate agent Savills has listed the former gate house, in tiny village Little Wolford, which comes with one master bedroom, two reception rooms and a wood-burning stove in a Victorian fireplace.

Its new owner will also get to enjoy having an extra detached timber cottage with its own bedroom, lounge, bathroom, office and two garages.

On the same property agency, £550,000 can buy one-bedroom flats in a tower in Maiden Lane, Camden, or on Sheen Road in Richmond.

It would also be just enough for a two-bedroom flat in Water Gardens Square, Surrey Quays, or one-bedroom apartments in Ealing and Wandsworth.

In May last year, it was revealed the average asking price in the capital had reached £550,000 - but the asking price went further in some boroughs more than others.

More than 54 per cent of the total properties on sale in London were out of that price range and in five of the capital's boroughs less than a quarter of homes were at or below £550,000.