A private parking space in Hyde Park, London has been put on the market for a staggering £350,000, which is 77% higher than the average house price in the UK. This information comes from yourparkingspace.co.uk, the UK's leading car paring market place, who have revealed some of the most expensive parking spaces in the nation.
Also on the list is a space in New Town conservation area in Edinburgh which is taking offers of over £85,000 and 'cheaper' option of a space at Manchester Airport which is £35,000. Heading back to Hyde Park, the space measures 19.5ft x 8ft and has a lease of around 88 years remaining. The space is located behind the prestigious Hyde Park Gardens which is one of the premier addresses of Westminster, hence its inflated value.
“The cost of this parking space is eye-watering”, said Harrison Woods, Managing Director of YourParkingSpace.co.uk. “You would have to rent out the most expensive parking space in Westminster listed on YourParkingSpace.co.uk for more than 50 years and it would still be cheaper than purchasing this space!”
It's not just the UK that has seen extreme prices for car parking spaces, a space was sold in Manhattan for an astronomical $1million. There was also a report in Hong Kong a few years ago where a space was sold for $640,000. I think I'll stick with NCP thank you very much....