If you've been trying to save money to put towards a house deposit, why not blow it all on the chance to own an "iconic piece of British heritage" instead?

A red telephone box in Chelsea is set to go to auction with a guide price of £45,000, which is also enough to buy a family home in other parts of the country.

Despite covering nine square feet and standing just over eight foot in height, the sale is billed as an exciting opportunity to run your own business or explore the kiosk's advertising potential.

The sale is one of five phone boxes due to go under the hammer in London, with one close to Southwark underground station being given the cheapest guide price of £35,000.

The red phone box in Chelsea, London
It's due to be auctioned off on Wednesday, May 26

The property description on Rightmove reads: "Historic listed 'K6' red phone boxes or 'Jubilee' kiosks, commemorating the Silver Jubilee of the coronation of King George V. These boxes are 8'3" high and 3ft 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 Tate Modern.

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

"In Cheltenham, 10 red phone boxes have been transformed into miniature art galleries, showcasing the work of local artists."

It's due to be auctioned off with BidX1 via online auction on Wednesday, May 26, and the brochure for the telephone kiosk states: "You own the kiosk and can resell at any point, but it is heritage site, so cannot remove them or alter the exterior. The kiosk is registered as a Listed Building at Historic England."

Entrepreneurs elsewhere in the country have used the boxes as a base for their business, including takeaways and shops, so if you can turn it into a success, it might be worth every penny.