£200,000 for Britain’s most expensive parking space

June 20, 2011 | by | 1 Comment

A wealthy motorist has spent a staggering £200,000 on Britain’s most expensive – PARKING SPACE.

£200,000 for world's most expensive parking space

The 284 sq ft plot is located near Harrods in an underground car park on Basil Street in Knightsbridge, west London.

Estate agents boasted that the space can ”easily” accommodate ”a large vehicle or alternatively, two smaller vehicles”.

The site benefits from separate entrance and exit driveways, 24 hour remote access and 24 hour security.

After forking out the same price as a Ferrari for the space, the super-rich buyer then has to stump up a £710 annual service charge and gets the remaining 90 years of a 99-year lease.

But over the full tenure the parking space becomes value for money, costing around 33p per hour over the 90-year lease – ten times less than a typical parking space in Knightsbridge.

Harrods Estates Asset Management, which managed the deal, declined to name the buyer due to client confidentiality.

But the terms of the sale stipulated that the buyer must live within 400 metres of the parking spot.

Shirley Humphrey, Sales and Marketing Director of Harrods Estates, said: ”The parking space in Basil Street is in a prime location in Knightsbridge, directly opposite Harrods, making it a highly desirable purchase for local residents.

”The owner can rest assured their car will be safe at all times.”

In 2009 a parking spot was snapped up in Boston’s Back Bay section for $300,000 (£184,000).

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  1. Dan Hilton says:

    So it works out at 33p per hour if you leave your car parked there permanently for 90 years?!  Bargain!

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