Britain’s most expensive parking space goes on sale

Parking Space

Britain’s most expensive parking space has gone on sale for the eye-watering price of £300,000 – almost twice the price of the average home in England and Wales, which stands at £162,000.

For your money you could get a rather uninspiring 11ft by 21ft open air spot, with each square foot costing £1,299.

The parking space is located in the super-exclusive Hyde Park Gardens area of London, where the price of houses ranges into the tens of millions.

The punter who plumps for the space will be rewarded with a 91-year lease, through estate agents Kay & Co. The same agency recently sold a nearby studio flat for £500 less than the asking price on the space

Parking fines in Westminster vary between £80 and £130 depending on the severity of the offence and they are halved if paid in less than 14 days. On the basis of the lowest possible £40 fine, it would take more than 20 years to rack up £300,000 in fines.

Perhaps a more appealing way to look at it, over the period of the 91-year lease it works out at just £9.20 per day to park in the space.

It isn’t just London where the price of a parking space has gone through the roof – three spots in St. Ives, Cornwall sold last year for a combined £160,000.

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