A car parking space in posh west London has hit the market for a whopping £165,000 – but that’s not all one lucky driver will have to pay.
Situated on an exclusive street in Chelsea, the shockingly expensive space is available to rent for £8,500 per year, or to purchase for £165,000.
But whoever is willing to fork out such a sum will also have to pay a service charge of £850 per annum just to use the spot.
Listed by Nicolas Van Patrick, an estate agents based in Knightsbridge and Chelsea, the car parking space is in a ‘gated covered park’ and comes with a ‘store room.’
‘We are very pleased to offer to the market secure, allocated, covered car parking spaces in this discreet Chelsea car park,’ reads the Rightmove listing.
‘Spaces are available on a multispace or individual basis, for sales and lettings.’
The posh street on which the car parking space is situated, St Leonard’s Terrace, is eye-wateringly expensive, with the average price of a home on the road selling for approximately £2,300,000 in the last year.
Previously, in 2020, that average asking price soared to as much as £7,925,000.
The Chelsea-based car parking space isn’t the first in the capital to have hit the market for an almost unbelievable sum, however.
This car parking space in posh west London has hit the market for a whopping £165,000
The space, in Chelsea, is also available to rent for £8,500 per year
Listed by Nicolas Van Patrick estate agents, the car parking space is in a ‘gated covered park’ and comes with a ‘store room’
The space is based on St Leonard’s Terrace, where the average price of a house in 2024 was as much as £2,300,000
A little over a month ago, a space in Knightsbridge, another posh west London area, was listed for £90,000 despite being too small for most cars.
Interested buyers were asked to fork put £40,000 to snap up the spot – situated through a gap in the wall – and a further £46,750 to keep it for a lengthy period of time.
The space’s listing described it as only suitable for ‘small cars’ and ideally if they are ‘continental-style ‘left-hand drive.’
Listed by the same agents as the space in Chelsea, a description of the space read: ‘A single parking space suitable for a small, ideally left-hand drive vehicle.
‘The space is within the Rutland Gate car park which has secure gated entry and CCTV. There is access to running water within the car park’
The almost ridiculous cost of such car parking spaces lays bare the state of the capital’s housing crisis.
For what you can buy a car parking space for in London, you can purchase an entire home in other areas of the country.
In Bradford, west Yorkshire, for instance, a plush, modern one bedroom terraced home hit the market last month for £100,000.
This car parking space in Knightsbridge – which could only be accessed via a gap in the wall – was listed for £90,000
Shockingly, the Knightsbridge space was only accessible via a gap in the wall
In Bradford, a home hunter could purchase this one bedroom home for £100,000
The property, which boasts off-road parking, also includes a lounge, kitchen/ diner, bedroom and multiple bathrooms
In Blackpool, this ‘inviting’ property is on sale for just £80,000
The home features a modern interior, its own garden and a conservatory
In Portsmouth, Hampshire, a conveniently located one bedroom studio apartment is available for £125,000.
The property, which boasts off-road parking, also includes a lounge, kitchen/ diner, bedroom and multiple bathrooms.
Around 80 miles east of Bradford, in Blackpool, for just £80,000 a house hunter can purchase a three bedroom ‘inviting property’ with a modern interior, its own garden and a conservatory.
But it’s not just northern England which is far more affordable. In Portsmouth, Hampshire, a conveniently located one bedroom studio apartment is available for £125,000.
In its listing, the property is described as ‘studio apartment is a fantastic opportunity for those seeking a buy-to-let investment.
‘With the shops, bars and restaurants right on your doorstep you are spoilt for choice on where to socialise,’ the listing adds.
‘Don’t miss out on the chance to own a piece of this bustling waterfront community. Whether you’re looking for a new home or an investment opportunity, this studio apartment in Gunwharf Quays is sure to impress.’
