A parking space in London has gone on the market for a staggering £250,000.
The private parking spot is located opposite luxury department store Harrods, in the Royal Borough of Kensington and Chelsea, and has been listed by estate agents, Knight Frank, MyLondon reports.
The agents say the lower-ground floor space measuring 10.5 square metres is along Basil Street.
A floor plan says the space measures 4.62 by 4.57 metres (15.2 x 15 ft), with the average UK parking space being 2.4m wide by 4.8m long, according to the AA.
An advert for the space says there are about 82 years left on the lease, with the car park being built in the early 2000s and offering 24-hour remote access and security.
It adds: "Basil Street is moments away from the world-class hotels, restaurants, luxury boutiques, shops, amenities and museums that the area has to offer. Knightsbridge Tube station is within close walking distance."
The average property in Knightsbridge costs £2.83 million, according to Foxtons estate agency.
Despite the parking space’s huge price tag, it isn’t the most expensive in the UK, with that honour going to another Knightsbridge spot, again very close to Harrods.
According to the Daily Mail, the luxury bay costs £350,000, just a stone’s throw away from the high-end department store.
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Kensington and Chelsea councillor Johnny Thalassites, lead member for environment, planning and place said: "We’re in desperate need of housing and as a borough with some of the most expensive land and property in the UK.
"It’s very frustrating to see a six-figure price tag on a parking space and disheartening for those looking to get on the property ladder."
He added: "It’s a major challenge for us as a council as we look to build new homes."
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