A parking space in London has sold for £400,000, 2.5 times the cost of an average UK home, making it the most expensive of its kind in Britain.
/ Source: The Telegraph
The underground space, which can fit two cars, is near London’s Royal Albert Hall. Britain's most expensive parking spot has gone on sale for £400,000 – nearly 2.5 times the cost of an average UK home.
The underground space, which can fit two cars, is near London’s Royal Albert Hall in Kensington and costs 15 times the average UK salary of £26,500.
For the same amount of money, a motorist could afford to park their car 880 yards away at the nearest NCP car park for 31 years - at a cost of £35.10 a day.
Just 10 months ago, a similar space in the same car park went on sale - for a slightly more reasonable £275,000.
But the price tag for a space in the exclusive underground lot has increased by 31 per cent - or £125,000 – in that time.