I'm probably way out of it, but for that money couldn't you live in Angel/Highbury near some decent connections?
Connections are pretty good, a couple of trainlines, a tube and loads of buses within a ten minute walk. You can be in the City or West End in half an hour.
Something like that in Angel/Highbury would probably be edging £2m though.
@aggi started
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I'm probably way out of it, but for that money couldn't you live in Angel/Highbury near some decent connections?