Forget the cost-of-living crisis – a parking spot in one of the most expensive parts of the country is for sale with a price tag of £350,000.
The area measures just 3.18 by 6.30 metres, or 10 ft 4 inches by 20 ft by 6 inches.
It is pictured for sale with a large Mercedes occupying the space, with a wire fencing wrapped around the boundary.
The parking spot is for sale with a large price tag of £350,000, which is more than the average price of a home in Britain
The parking spot is part of a large underground car park and sits alongside several other vehicles
It is perhaps of no surprise that the parking spot is in London. Indeed, it is on one of the most expensive areas of the capital, in affluent Knightsbridge, where properties sell for thousands of pounds per square foot.
Garages in prime central London are often sold for hundreds of thousands of pounds, especially if they have the potential to be converted into a home and then sold on for a hefty profit, although there is no chance of that with this purchase.
They can also be in high demand among car owners with valuable vehicles that need protecting from theft.
This particular parking spot for sale doesn’t occupy its own garage. Instead, it is part of a large underground car park housing many vehicles.
The parking space is part of the Kingston House South estate, which is in the heart of affluent Knightsbridge
The entrance to the car park is on ground level and slops down underground to the parking space
There is some security in place on site, which includes a daily garage porter and CCTV
The property listed for sale is pictured with a large Mercedes occupying the space, and a wire fencing wrapped around the boundary
The parking space is leasehold and has a long lease. It also has some security in place with a daily garage porter and CCTV.
The parking space is on the Kingston House South estate, close to Regent’s Park to the north, with Harrods to the east.
A flat in the block pictured above the underground car park is not included in the sale. The only thing included in the price is the leasehold parking space.
And if central traffic congestion becomes too much, there is good access to public transport nearby, with South Kensington and Knightsbridge Underground stations around half a mile away.
It isn’t just flats that can be leasehold: The parking space for sale is also leasehold and has a long lease
The expensive property provides a lock up and leave facility for a vehicle in the heart of the capital
The parking space is for sale via estate agents Nicolas Van Patrick
The asking price of the parking space is more than the average value of a home sold in Britain during the past 12 months, which currently stands at £329,407, according to property website Zoopla.
However, property prices in Knightsbridge are considerably more, with the average price of a sold home in the past year at £3,100,000.
The parking space is for sale via estate agents Nicolas Van Patrick.
David Johnson, of independent property consultants INHOUS, said: ‘There is a premium to be paid for peace of mind, which you get if you have a private, secure, parking space.
‘Sadly, the rate of car theft in the capital is high, so it’s worth paying for somewhere safe to keep your car. This is particularly the case if it has a high value, making it a potential target for thieves.
‘These car spaces tend to hold their value, if not go up over time, depending on their location. Our clients often request them.’