Parking in Kensington now costs more than a three-bed house in Manchester – and buyers are lining up to pay.
A car parking space in the west London neighbourhood is close to being sold for nearly £180,000 after receiving multiple offers.
Estate agents who are advertising the spot at York House Place, near Kensington High Street, said they received two offers just below the asking price last week and that they are confident of making a sale.
An agent told Metro the seller was a man who had a flat in the building but does not need the space anymore.
The buyer, meanwhile, ‘will probably be someone who owns a house in the area but doesn’t have parking, and they’ve got a luxurious car that they want to keep secure and safe,’ they said.
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The space, listed online for £180,000, is so expensive because it is ‘a lot more secure than most and it is in a very good area’.
‘I think with the current market conditions, it will probably go for just under the asking price,’ the estate agent added.
For the same price, you could get a three-bedroom house in Rusholme, Manchester, according to Rightmove listings.
List of the top 10 most expensive car parking spaces in the UK
- Knightsbridge, SW7 – £250,000 – a secure parking spot described as a ‘secure underground’ space with 24 hour security. It also comes with a £3,500 per year service charge.
- York House Place, W8 – £180,000 – the larger-than-average space near Kensington Palace can fit a Porsche and a motorbike.
- Chelsea, SW3 – £165,000 – a range of ‘covered parking spaces in a discreet Chelsea car park’ went on sale recently. Or you can rent one for £8,500 a year.
- York House Place, W8 – £125,000 – another spot on the Kensington premises. It’s a few feet smaller than its neighbour, knocking £45,000 off the price tag.
- Park Lane, W1 – £100,000 – a designated space on level four of a car park near Hyde Park. It comes with a ‘parking attendant’.
Located in a secure facility which can be accessed via a lift, the parking space can fit a Porsche 911 and a motorbike.
The block of mansion flats is less than 500 metres from Kensington Palace and is protected by round-the-clock security guards.
Residents could be seen entering and exiting the premises in luxury cars on Monday, including one in a Ferrari Purosangue SUV, which is worth upwards of £360,000.
The space, which is being advertised on a leasehold basis for the next 105 years, also comes with a £1,410 annual service charge and a yearly ground rent of £100.
John D Wood and Co is selling another, smaller space in York House Place for £120,000, while several others are advertised at £85,000.
Kalai Prai, 52, a west London homeowner who works in a deli next to the mansion block, told Metro that property prices are ‘going crazy’ in the area.
Would you pay that much for a parking space?
Let us know your thoughts and email our reporter alex.daniel@metro.co.uk
Is £180,0000 too much for a parking space?
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Yes
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No
He said he is not surprised by the price tag, adding: ‘It’s just the way things are going, things have changed completely over the last 20 years.’
The father of two added that his kids will never be able to buy a house in Kensington and Chelsea nowadays.
However, he added that the sky-high price tag does not make him angry, instead opting to congratulate the eventual seller of the space.
‘Whoever manages to sell that, they’re a winner,’ he said.
Get in touch with our news team by emailing us at webnews@metro.co.uk.
Get in touch with our news team by emailing us at webnews@metro.co.uk.
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