Even by the standards of London’s white-hot real estate market, it was a property with seemingly limited appeal: an unused stairwell, attached to the back of a suburban building, next to a parking garage. Nevertheless, the four-story metal stairwell, enclosed by translucent panels, sold at auction on Tuesday morning for 25,000 pounds (about $32,000), 20 percent more than the starting bid. Simon Squibb, the longtime entrepreneur who bought the stairwell, said he saw what the property listing called its “development potential.”Mr. Squibb recently co-founded HelpBnk, a company that supports budding entrepreneurs, possibly with the help of his new stairwell.

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Persons: Simon Squibb, Squibb