London garage close to home of Prince William goes on sale for £1/2 MILLION

July 8, 2014 | by | 0 Comments

A London garage located near William and Kate is set to become one of the most expensive places in the world to park after it was put up for sale for #500,000.

The “substantial and secure” garage is tucked away on Canning Mews, which is minutes away from Kensington Palace.

It has been described as being large enough to accommodate a Bentley Continental of Range Rover.

But at £500,000, the lock-up is around eight times the price of the brand-new 4×4.

The garage is also around £100,000 more than the average price of a home in the capital and almost three times the £172,000 paid on average for a home in England and Wales last month.

If the 279sq/ft garage sells for its asking price, it will work out at £1,792 sq/ft.

This is more expensive than a number of London’s poshest roads, including The Bishops Avenue, dubbed Billionaires’ Row.

For the same price as the garage, you could get a 28-bedroom country mansion in Devon, a picturesque cottage in the Cotswolds or an equestrian centre in Scotland.

Canning Mews, in desirable W8, has its own caretaker present between 8am and 12pm each day.

The garage door is 8 foot 5 wide and 9 foot 2 high, with the garage stretching back a total of 17 foot 9.

To the rear of the garage are a number of cupboards and it also has a mezzanine for storage.

It is the latest lock-up to be offered with a whopping price-tag in the capital.

But while a number of these attract an inflated price because of the potential to be developed, this will remain a garage.

It is being offered leasehold and only has 92 years left on its lease – with any buyer expected to pay a further #300 per year in ground rent and maintenance charges.

The garage has been put up for sale with South Kensington estate agent John D Wood.

Marina Collett, associate director of John D Wood & Co, in South Kensington, said the garage attracted its jaw-dropping price because it is located in “one of the most desirable neighbourhoods in the world”.

She added: “This substantial and secure garage is discretely located just to the west of Palace Gate in Kensington, one of the most desirable neighbourhoods in the world and a very different market to the rest of the country.

“Purely its location alone, moments from Kensington Gardens and Kensington Palace, makes this garage a valuable asset.

“Canning Place is surrounded by very high value residential properties, the vast majority of which do not have either off street parking or a garage.

“This garage in Canning Place is large enough (when the existing storage cupboards are removed) to accommodate cars as large as a Range Rover or a Bentley Continental.”

Henry Pryor, a buying agent and property expert, added: “While it is out of the reach for most of us mere mortals, I am sure someone will see it as a reasonable price.”

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