The £145,000 bedroom

It's the ideal central London location for the busy commuter, close to the Tube, in a desirable part of town, but with only one drawback - no space for even the most basic domestic comforts, never mind room to swing the proverbial cat.

What must be one of London's smallest flats has just gone on the market for a mind-boggling £145,000. At 124 sq ft that works out at £1,169 per square foot.

We obtained the estate agent's brochure for the flat in Courtfield Gardens, SW5. Some explanatory translation was required.

A perfect pied-a-terre or an ideal first-time buy ...

So small, the single bed is built above the wardrobe and reached by a stepladder. Next to it there's a small sink and two-ring electric hob. Not that anyone is going to be playing the domestic goddess here - there's simply no space for guests.

... in this newly refurbished studio flat ...

Clever use of mirror on the wall makes the 10ft by 9ft 9in room seem marginally bigger, if you squint your eyes and think about that scene in Alice In Wonderland where she shrinks. To get to the shower, which is located off the narrowest of hallways - please leave the briefcase outside - the occupant will have to climb over the lavatory - whoops, mind your foot.

... is quietly situated to the rear of this impressive and well maintained terrace period building ...

There's a lovely view of the narrow courtyard from the bedroom window, from where its occupier could lean out and happily shake his neighbour's hand as they comment on how delightful the drainpipes look in the sunlight.

The studio flat has been converted from a storage room on the second floor of a classic Victorian townhouse, the sort of place where the children's rocking horses might once have been kept. Modern-day occupiers can just rock themselves to sleep, taking care to avoid banging their head on the low ceiling.

... which occupies a prime location convenient for all amenities...

Just as well, as you certainly wouldn't be spending much time there. The bars and restaurants of Earls Court are nearby, as is the exhibition centre with its acres of space. Go there and stretch your legs after a night of cramped sleep.

... and has the additional benefit of access to communal gardens......

making a handy storage area for all those awkward possessions you can't fit into the flat, such as your vinyl record collection, books, sofa and state-of-the art widescreen TV. Thank goodness for flat-pack furniture. In this flat there will be no need to unpack it.

Estate agent James Bailey, from Douglas & Gordon, had the grace to admit the flat was of limited size. But he knows that in London's surreal property market there will be no shortage of takers.

"It's frightening," he said. "But what else can you buy in a nice part of London for £145,000. It's ideal for someone who just wants somewhere to sleep and hang the suits. Or perhaps for a nanny or au pair who works nearby.

"I've already had interest from a man who lives in an eight-bedroom house in France and currently spends three nights a week in a hotel when he's working here. The phones will soon be ringing simply because of the location."

Now, have you seen our fourbedroom property round the corner in Kenway Road? Certainly worth viewing sir, though at £2 million it might just be out of your price range.