Most expensive parking space in London revealed after buyers pay more than £200,000

Story From Jam Press (Expensive Parking Space) Pictured: The ?165,000 parking space is based in St Leonard?s Terrace, Chelsea, west London. Posh ?165,000 parking space on sale in capital? for same price as average home in UK?s cheapest town A posh parking space has gone on sale in the capital, for the same price as the average home in the cheapest town in the UK. The bay is being sold for ?165,000 and is a gated lot. It has pipes and cables running over the top and a big pillar to one side. As well as the huge asking price, there is also ?850 of an annual service charge to pay. It does come with a store room and a port is on hand too. It is based in St Leonard?s Terrace, Chelsea, west London. Most properties in the exclusive street cost around ?2.3million. But the parking space, which can also be rented for ? 8,500 a year, is the cost of the average house in Barrow-in-Furness. Last month, it was revealed as the most affordable place to live in Britain. The cost of a home in the town is just a fraction of the cost of the parking spot, which is ?167,000. But properties do sell there for as little as ?33,000, the same as five of the bays. The parking space is being sold by Nicholas Von Patrick estate agents and advertised on Rightmove. The listing reads: ?Gated covered car park. ?Single space for sale, ?165,000 or ?8,500 per annum. ?Leasehold expires in 2977, approximately 953 years remaining. ?Service charge approximately ?850 per annum. ?Each space includes a store room, porter.? Last January, a parking space was sold in Knightsbridge, west London for ?90,000. But the bay was too narrow for most cars, as reported by Luxury Property News. ENDS
Car parking spaces are being sold for more than £200,000 (Picture: Jam Press)

Car parking spaces are being sold for more than £200,000 – the equivalent of a three-bedroom house in Manchester.

Slabs of concrete in London’s prime locations are up for some serious amounts of money, with one in Knightsbridge going for £250,000.

Another spot measuring just 5.6 metres by 2.5 metres in York House Place costs £125,000.

Another space in Chelsea is available to rent for £8,500 per year, or to buy outright.

Listed by estate agents Nicolas Van Patrick the car parking space is in a ‘gated covered park’ and even comes with its own store room.

The listing reads: ‘We are very pleased to offer to the market secure, allocated, covered car parking spaces in this discreet Chelsea car park.

‘Spaces are available on a multispace or individual basis, for sales and lettings.’

Story From Jam Press (Expensive Parking Space) Pictured: The ?165,000 parking space based in St Leonard?s Terrace, Chelsea, west London. Posh ?165,000 parking space on sale in capital? for same price as average home in UK?s cheapest town A posh parking space has gone on sale in the capital, for the same price as the average home in the cheapest town in the UK. The bay is being sold for ?165,000 and is a gated lot. It has pipes and cables running over the top and a big pillar to one side. As well as the huge asking price, there is also ?850 of an annual service charge to pay. It does come with a store room and a port is on hand too. It is based in St Leonard?s Terrace, Chelsea, west London. Most properties in the exclusive street cost around ?2.3million. But the parking space, which can also be rented for ? 8,500 a year, is the cost of the average house in Barrow-in-Furness. Last month, it was revealed as the most affordable place to live in Britain. The cost of a home in the town is just a fraction of the cost of the parking spot, which is ?167,000. But properties do sell there for as little as ?33,000, the same as five of the bays. The parking space is being sold by Nicholas Von Patrick estate agents and advertised on Rightmove. The listing reads: ?Gated covered car park. ?Single space for sale, ?165,000 or ?8,500 per annum. ?Leasehold expires in 2977, approximately 953 years remaining. ?Service charge approximately ?850 per annum. ?Each space includes a store room, porter.? Last January, a parking space was sold in Knightsbridge, west London for ?90,000. But the bay was too narrow for most cars, as reported by Luxury Property News. ENDS
The £165,000 parking space based in St Leonard’s Terrace, Chelsea, west London (Picture: Jam Press/Nicholas Van Patrick)
Story From Jam Press (Expensive Parking Space) Pictured: The tiny parking space in Knightsbridge that was sold for ?90,000. Posh ?165,000 parking space on sale in capital? for same price as average home in UK?s cheapest town A posh parking space has gone on sale in the capital, for the same price as the average home in the cheapest town in the UK. The bay is being sold for ?165,000 and is a gated lot. It has pipes and cables running over the top and a big pillar to one side. As well as the huge asking price, there is also ?850 of an annual service charge to pay. It does come with a store room and a port is on hand too. It is based in St Leonard?s Terrace, Chelsea, west London. Most properties in the exclusive street cost around ?2.3million. But the parking space, which can also be rented for ? 8,500 a year, is the cost of the average house in Barrow-in-Furness. Last month, it was revealed as the most affordable place to live in Britain. The cost of a home in the town is just a fraction of the cost of the parking spot, which is ?167,000. But properties do sell there for as little as ?33,000, the same as five of the bays. The parking space is being sold by Nicholas Von Patrick estate agents and advertised on Rightmove. The listing reads: ?Gated covered car park. ?Single space for sale, ?165,000 or ?8,500 per annum. ?Leasehold expires in 2977, approximately 953 years remaining. ?Service charge approximately ?850 per annum. ?Each space includes a store room, porter.? Last January, a parking space was sold in Knightsbridge, west London for ?90,000. But the bay was too narrow for most cars, as reported by Luxury Property News. ENDS
The tiny parking space in Knightsbridge that was sold for £90,000 (Picture: Jam Press/Nicholas Van Patrick)

Jay Vara, the owner of a space in Allen Mansions in Kensington worth £165,000 said buyers frequently offer him way over asking.

He told the Telegraph: ‘People ask me on the street about three times a month, maybe, if they can rent it out from me.

‘They offer me £10,000 more, but I say no. It is expensive but it is more than a space, it is safe and convenient. I find the market crazy.

‘When I bought mine someone offered to buy it back from me. I said no.’

Another space was listed £90,000 in Knightsbridge, despite being too small for most car owners and it situated through just a gap in the wall.

Story From Jam Press (Expensive Parking Space) Pictured: The ?165,000 parking space is based in St Leonard?s Terrace, Chelsea, west London. Posh ?165,000 parking space on sale in capital? for same price as average home in UK?s cheapest town A posh parking space has gone on sale in the capital, for the same price as the average home in the cheapest town in the UK. The bay is being sold for ?165,000 and is a gated lot. It has pipes and cables running over the top and a big pillar to one side. As well as the huge asking price, there is also ?850 of an annual service charge to pay. It does come with a store room and a port is on hand too. It is based in St Leonard?s Terrace, Chelsea, west London. Most properties in the exclusive street cost around ?2.3million. But the parking space, which can also be rented for ? 8,500 a year, is the cost of the average house in Barrow-in-Furness. Last month, it was revealed as the most affordable place to live in Britain. The cost of a home in the town is just a fraction of the cost of the parking spot, which is ?167,000. But properties do sell there for as little as ?33,000, the same as five of the bays. The parking space is being sold by Nicholas Von Patrick estate agents and advertised on Rightmove. The listing reads: ?Gated covered car park. ?Single space for sale, ?165,000 or ?8,500 per annum. ?Leasehold expires in 2977, approximately 953 years remaining. ?Service charge approximately ?850 per annum. ?Each space includes a store room, porter.? Last January, a parking space was sold in Knightsbridge, west London for ?90,000. But the bay was too narrow for most cars, as reported by Luxury Property News. ENDS
The outside of £165,000 parking space is based in St Leonard’s Terrace, Chelsea, west London (Picture: Jam Press/Nicholas Van Patrick)
Story From Jam Press (Expensive Parking Space) Pictured: The entrance to the tiny parking space in Knightsbridge that was sold for ?90,000. Posh ?165,000 parking space on sale in capital? for same price as average home in UK?s cheapest town A posh parking space has gone on sale in the capital, for the same price as the average home in the cheapest town in the UK. The bay is being sold for ?165,000 and is a gated lot. It has pipes and cables running over the top and a big pillar to one side. As well as the huge asking price, there is also ?850 of an annual service charge to pay. It does come with a store room and a port is on hand too. It is based in St Leonard?s Terrace, Chelsea, west London. Most properties in the exclusive street cost around ?2.3million. But the parking space, which can also be rented for ? 8,500 a year, is the cost of the average house in Barrow-in-Furness. Last month, it was revealed as the most affordable place to live in Britain. The cost of a home in the town is just a fraction of the cost of the parking spot, which is ?167,000. But properties do sell there for as little as ?33,000, the same as five of the bays. The parking space is being sold by Nicholas Von Patrick estate agents and advertised on Rightmove. The listing reads: ?Gated covered car park. ?Single space for sale, ?165,000 or ?8,500 per annum. ?Leasehold expires in 2977, approximately 953 years remaining. ?Service charge approximately ?850 per annum. ?Each space includes a store room, porter.? Last January, a parking space was sold in Knightsbridge, west London for ?90,000. But the bay was too narrow for most cars, as reported by Luxury Property News. ENDS
The entrance to the tiny parking space in Knightsbridge (Picture: Jam Press/Nicholas Van Patrick)

The space’s listing described it as only suitable for ‘small cars’ and ideally if they are ‘continental-style left-hand drive’.

The incredibly high cost of the central London parking spaces equals house prices across the rest of the country.

In Bradford, a modern one bedroom terrae home hit the market for £100,000 last month.

In Blackpool, a modern three bedroom home costs £80,000.

Get in touch with our news team by emailing us at [email protected].

For more stories like this, check our news page.

About admin