Finding parking in London has always been a challenge, but one particular space near Hyde Park is taking exclusivity to the next level—going on sale for a staggering £300,000.
To put that into perspective, the average price of a home in Britain currently stands at £248,000, according to the UK House Price Index. That means this single parking space costs more than £50,000 above what many pay for an entire property.
Prime location near Hyde Park
Situated just steps away from the West Carriage Drive entrance to Hyde Park, the standard-sized outdoor space includes two bollards and a metal chain to ensure it's reserved for private use. It comes with a 91-year lease, of which 79 years remain.
While the price tag may seem excessive for a parking spot, it pales in comparison to the cost of a Hyde Park Gardens residence, where properties average £7.7 million, according to Rightmove.
A pricey parking market
The Hyde Park spot isn't the only jaw-dropping listing in London's parking market. Other premium spaces currently on sale include:
- A £495,000 underground parking spot in Chelsea.
- A £250,000 gated parking space in South Kensington, conveniently close to the Royal Albert Hall.
For those who frequent central London and need guaranteed parking, such investments might seem reasonable—especially given the city’s sky-high property prices.
Would you pay £300,000 for a single parking space, or is this just another sign of London's extreme real estate market? Photo by Leonard Bentley, Wikimedia commons.