The Property Equation: What will £925,000 buy?

This trendy London warehouse conversion would set you back just short of million - a figure that would buy five distinctive homes around the country, Rosalind Russell finds

IF PROPERTY prices have stalled in London, no one has noticed in Lisson Grove, NW8 where a three-bedroom apartment in a fashionable former industrial building near Regent's Park would leave little change from £1m.

If property prices have stalled in London, no one has noticed in Lisson Grove, NW8 where a three-bedroom apartment in a fashionable former industrial building near Regent's Park would leave little change from £1m.

This split-level, second- and third-floor apartment, above, in a Thirties former glass cutting and polishing factory – just outside the congestion area, to the north of the Marylebone Road – was converted in the Nineties and retains some original machinery on the main 29ft reception room ceiling and the original warehouse loading door as features. There's an open-tread steel and wood staircase leading to the next floor, and the main bedroom, second reception room and two large roof terraces. With a garage, it's for sale at £925,000 through Foxtons, on 0207 449 6000.

But for the same money you could have a portfolio which includes...

A Grade II-listed converted granary and the former mill (still being converted), near Boston in Lincolnshire.

The granary has three bedrooms and a large sitting room with exposed beams which will connect to the six-storey mill. This will contain the living room and bathroom, master bedroom etc, via french doors. The 22ft dining kitchen has top-of-the-range units and integrated appliances. There is a double garage and a third of an acre of gardens. Price £275,000. William H Brown, on 01205 351010.

Plus...

A stylish one-bedroom flat in Clarendon House, almost in the centre of Newcastle, an easy walk from the shops, restaurants, bars and the railway station.

The first-floor apartment has been upgraded, with wood laminate floors and a new kitchen. There's an 18ft open-plan, lounge-cum-dining room with a bay window with window seat, double bedroom. Night storage heating, secondary glazing and a security entry-phone. Price £120,000. Sanderson Young, on 0191 255 0800.

Not to mention...

A Grade II-listed, four-bedroom house, with its own historical monument in the grounds, on Anglesey, north Wales. Plas Berw has mullioned windows, a huge inglenook fireplace and beamed ceilings, and has been recently updated.

There are two sitting rooms, and a spiral staircase to the first floor. It has a modern bathroom and kitchen. In the eight and a half acre gardens stands the ruined scheduled ancient monument which may have been the original house. Price £250,000. Williams & Goodwin, on 01248 355 333.

With enough left to buy...

A fourth-floor, two-bedroom apartment in one of the North's most striking new buildings, Imperial Point at Salford Keys, Greater Manchester, which has views over the redeveloped Quays, with Daniel Libeskind's Imperial War Museum on the far side and the Lowry Centre below.

The flat has video entry and a handy storage area in the hallway. The 26ft lounge/dining area has a patio door leading to a decked balcony, and the kitchen area has a breakfast bar. Main bathroom plus en suite shower. Secure underground parking. Price £205,000. Bridgfords Countrywide, on 0161 839 1160.

And still be able to afford...

A two-bedroom flat in a pretty development in Wickham Market, in Suffolk. It has a garden plus use of the communal gardens, allocated parking and night storage heating.

The entrance hall has doors to the 16ft lounge and large kitchen/dining room. There's also a box-room and one bathroom. It is leasehold, with 116 years left. Price £75,000. Abbotts Countrywide, on 01728 746474.