A Hackney microflat, which is smaller than an average parking space, has been sold at an online auction for GBP90,000. The flat on Saratoga Road, Clapton, was originally listed for GBP50,000 via My Auction. The tiny studio was originally listed for GBP50,000 through My Auction. The flat is located in Clapton on Saratoga Road. / My Auction. Although the guide price is almost twice that, it is still significantly less than the average first time buyer deposit in London at just below GBP110,000. The room has a microwave, four shelves and a cupboard under the captain’s bed. The sink is located in the opposite corner, and the television is mounted to the wall above. The average London rental yield is less than 5%, while the studio is expected make at least twice that. The lease has 992 years remaining. The seller is a west London-based property firm that purchased the studio in 2017 at GBP103,000.