Far out Friday: £350,000 for a carpark?

by NZ Adviser11 Mar 2016
A parking space measuring 19.5ft x 8ft in London's Hyde Park has been placed on the market and at its £350,000 (about NZD 750,000) is quite fitting for its surrounding area where flats sell for over £10million.

The advertisement for the space listed on www.rightmove.co.uk said it was, "A rare opportunity to purchase a private parking space for one car, located behind the prestigious Hyde Park Gardens and ideally located for the transport links of the M1 and March Arch underground line."

The open air car park measures approximately 19.5ft x 8ft with about 88 years left on the private lease.

The cost of the space is nearly double the £188,270 average house price in England and Wales but below the £514,270 figure in London, according to the Daily Mail.
 
Another car park previously sold in London for £400,000 but it was situated in a secure, underground car park and could cater for two vehicles.

The same price tag of £350,000 could buy you a brand new Lamborghini Gallardo LP560-4 or a four-bed detached home in Newcastle, a three-bed semi-detached house in Manchester or a two-bed flat in London. 

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