R7.26 million for a UK parking spot

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IOL mot feb13 underground parking . File photo: AFP

Britain's most expensive parking place has gone on sale for £400 000 (R7.25 million) - nearly 2.5 times the average UK house price.

In a sign of the booming value of property in the capital, a spot in the same underground car park, situated near the Royal Albert Hall in London, sold ten months ago for £275 000 (R5 million).

For £400 000, you could afford to park half a mile away at an NCP car park for 31 years, at £35.10 (R637) a day.

But the asking price is still just a fraction of the cost of the homes around it - the average property in the SW7 post code sells for £2.3 million (R41.7 million).

The space, which holds two cars, is being sold through agents Hobart Slater and is over the road from Hyde Park and Kensington Gardens.

Vehicles are also protected by their own double doors, to which only the owner has access.

Daily Mail



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