Home Commercial Property Britain's most expensive parking space, yours for £500,000

Britain's most expensive parking space, yours for £500,000

by LLP Editor
17th Mar 15 11:16 am

Another ludicrous London property story…

Britain’s most expensive parking space has gone up for sale for [insert shocked or disgusted adjective here] £480,000 – that’s more than double the cost of an average UK home.

Taking into account stamp duty costs, the buyer of the parking space will have to stump up £494,000.

The triple-bay space, in South Kensington, offers a valet service, an “exceptional chauffeur lounge”, 24-hour security and a number plate recognition system.

A listing for the parking space on Foxtons reads: “Boasting an exceptional location, this exquisite underground parking development boasts a secure, prestigious and exclusive environment.

“Kingston House Private Parking is excellently positioned to cater for London’s most prime addresses and renowned luxury leisure.”

Who in their right minds would pay half a million pounds for this parking space?

According to Paul Wallace of Supercars of London, a YouTube channel exhibiting flashy cars, a space like this is necessary for wealthy Londoners.

“£480,000 is an very excessive cost to keep your car safe at night, but it’s relatively essential with potential vandals,” he said.

“There are lots of £200,000 supercars left on the side of the roads overnight, which exposes the cars to having wing mirrors clipped, rain and pollution on paintwork and even worse. You might think the super wealthy residents of Central London would have unlimited secure parking spaces, but it is becoming more apparent that this is not the case.”


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