With UK house prices continuing to rise, YourParkingSpace.co.uk, the UK’s leading online car parking market place, has revealed some of the UK’s most expensive car parking spaces for sale in cities across the UK.
Topping the list, unsurprisingly, is London, where a space has recently been put on the market for an eye-watering £350,000. The private parking space has room for just one car, and is located behind the prestigious Hyde Park Gardens, one of the premier addresses in Westminster. The cost of the parking space is more than one and a half times higher than the average house price in the UK.
According to the agent details the space is ideally located for the transport links of the M1 and London Underground stations, as well as the new Crossrail service. This open air space measures approximately 19.5ft x 8ft and is held on a private lease with approximately 88 years remaining.
“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!”
Offering significantly better value for money, north of the border in Scotland, a double garage is for sale in the New Town conservation area of Edinburgh for offers over £85,000. The highest cost parking space rental in Edinburgh listed on YourParkingSpace is much more affordable at just £195 per month.
For those looking for parking in and around Manchester Airport there are currently 45 executive individual parking spaces available to purchase for £35,000 each. Monthly spaces near the airport booked via YourParkingSpace cost in the region of £100 per month.
According to the agent details, “these parking spaces are very spacious and can accommodate a larger vehicle”. For an additional cost, there is a valet service and a driver to take clients to and from the terminal buildings.
It’s not just UK parking spaces that are being sold for sky high prices. A parking space in central Manhattan was recently sold for $1million and a space in Hong Kong was listed a few years ago for $640,000.
“As the cost of homes has increased in the UK so has the cost of parking but for those looking for regular, secure and convenient parking in cities across the UK, then renting spaces with YourParkingSpace really does provide the best and most affordable option.”