Kensington parking space on sale for £275,000

If we have been in a frenzy about ever-rising London property prices and the insatiable thirst from foreign buyers for London luxury abodes, we apologise.

For as extreme as the cataclysmic rise and rise of London real estate has been, the news that a South Kensington car parking space has gone on sale for £275,000 really takes the biscuit.

This is more than £110,000 than the price of an average UK home, although, it is in fairness, still about £110,000 less than an average London home.

Paying out more than a quarter-million-pounds will get you a space large enough to “accommodate a Rolls-Royce or two medium-sized cars” for the duration of the 84-year-old lease.

“A lot of people have townhouses and flats that are Victorian and don’t have parking, and people don’t want to park their Ferraris in the street; this is a secure underground car park,” Robert Lewis an associate at WA Ellis told media.

Apparently it is not uncommon for the company to sell garages in the area for more than £180,000, he explained.

“It can be beneficial for people’s insurance and if you were selling a house nearby you could sell it ‘with parking’,” said Lewis.

“The garages and spaces we sell near Harrods can sell for a lot more, you often see Bugatti Veyrons parked in there.”

But don’t worry just yet… the owner and the estate agents are being reasonable and will accept closest offers – so who knows maybe you can even pick yourself up a bargain.  

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