ONE of Oxford's tiniest properties has been put up on the market for an eye-watering price.

The red phone box, located at the entrance of Covered Market, will be auctioned later this month with a starting price of £15,000.

While BT put up for adoption hundreds of kiosks like this one for just £1, this iconic piece of British heritage located in Oxford city centre will cost hopeful owners a pretty penny.

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The historic listed 'K6' red phone box or 'Jubilee' kiosk, commemorates the Silver Jubilee of the coronation of King George V.

These boxes stand at just over eight feet high and three feet square.

They were originally designed by Sir Giles Gilbert Scott, who also designed Liverpool’s Anglican Cathedral, Battersea Power Station and Bankside Power Station now known as Tate Modern.

Historic England have listed to preserve these iconic red kiosks, and many have transformed them to coffee shops, libraries, museums, bakeries, and even defibrillators.

In Cheltenham for example, ten red phone boxes have been transformed into miniature art galleries, showcasing the work of local artists.

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The online auction will take place on Tuesday, April 27.

For further information, such as legal documents and property information, please visit bidx1.com.

The Oxford Mail recently reported that there are 375 red phone boxes available for communities in the South East to adopt for just £1 as part of their Adopt a Kiosk scheme.

There are five in Cherwell; three in Chiltern; three in Oxford; 13 in South Oxfordshire; two in Vale of White Horse and 10 in West Oxfordshire.

Any recognised public body, such as a parish council, community council or town council, can apply.

These memorable boxes can also be adopted by registered charities or by individuals who have a payphone on their own land.