For £200,000 you could buy a family home in many areas of the UK. In London, it will get you a parking space.
A 20ft by 11ft patch of concrete has just gone on sale for the staggering six-figure sum – and you won’t even own it outright as it’s an 84-year leasehold.
The spot on a street near Hyde Park costs the same as a four-bedroom house in a Lake District beauty spot, a spacious suburban home in Yorkshire or a new Ferrari F8 sports car.
But it is in a prime location, within walking distance of the West End where parking costs about £40 per day.
A 20ft by 11ft patch of concrete (pictured) near Hyde Park in central London has just gone on sale for £200,000 – and you won’t even own it outright as it’s an 84-year leasehold
And it comes with two bollards and a chain to stop another driver nabbing your space.
Martin Bikhit of estate agent Berkshire Hathaway Homeservice, which is selling the bay, said: ‘Parking values in London are driven by lifestyle.
‘The reason this space can command such a premium is the fact that homes in this road fetch up to £20million and the super-wealthy will pay for convenience.’
The cost of the parking spot could buy a five-bedroom semi in Shipley, West Yorkshire, or a period cottage at Ulverston in Cumbria – and is about 80 per cent of the average price for a property in the UK, although comfortably more than the average in Wales, Northern Ireland, Scotland and several regions in England.
The price is less than the £350,000 commanded for a space in nearby Knightsbridge earlier this year – although that had a security patrol and dedicated CCTV cameras.
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