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A studio flat believed to be Britain's smallest £1million home has gone on the market in Mayfair.

The tiny 334 sq ft flat is smaller than a double garage and has a combined living and bedroom space along with a cosy kitchen and bathroom.

Its £950,000 price tag means prospective buyers would have to fork out £38,000 in stamp duty as well as £2,200 for an annual service charge.

The flat is part of an Upper Brook Street building designed in 1928-9.

It is believed to have provided homes for aristocratic widows including the likes of Lady Virginia Champneys, the wife of eminent obstetrician Francis Champneys.

But estate agents Wetherell are convinced it could make a perfect 21st century home for a student or socialite.

Chief executive Peter Wetherell said: "It would provide the perfect Mayfair pad for an overseas student studying in London from a wealthy family, or a socialite who wants a Mayfair address but at a lower cost."

The flat went on the market after it was revealed international students were paying up to £2,500 per month for accommodation as they study in London.

At the other end of the market, a box flat in which tenants would have to sleep on a desk has been advertised to rent for £74 per week in Lewisham.