London parking space up for £350,000

London parking space up for £350,000

Finding a parking space in London can be a nightmare, but a space near Hyde Park could be yours for a cool £350,000.

The space, which measures 19.5ft by 8ft, is more than one and a half times more expensive than the average house price in the UK.

Seller Knight Frank says it is a rare opportunity for someone to purchase a private parking space for one car in the capital.

Located just behind Hyde Park Gardens, it is held on a private lease with approximately 88 years remaining.

The eye-watering asking price makes it the most expensive parking space currently for sale in the UK, followed by a spot in Edinburgh's New Town conservation area for £85,000.

An underground parking space for three cars in South Kensington was listed for £480,000 in 2015, while a two-car underground bay in the borough previously sold for £400,000.

But it is not just the UK where premium parking comes at a premium. A spot in central Manhattan, New York, recently sold for a staggering $1 million, while another in Hong Kong fetched $640,000.

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