Skip advert
Advertisement
Features

UK’s most expensive parking spaces revealed

Following news a parking space in St Ives went under the hammer for £40,000, we round up other eye-wateringly pricey bays

A parking space in St Ives, Cornwall, has sold within its £30-40,000 guide price. The spot, located in a private, gated car park in the popular coastal town, didn’t even make it to auction, because its buyer “was very keen to secure the spot and made a bid which was accepted prior to the auction.”

Advertisement - Article continues below

The space in question has a 999-year lease and, says auctioneer Katie Semmens, affords its new owner “easy year-round and secure parking with access to the town centre, and thereby its picturesque beach and harbour."

At just 4.4 by 2.1 metres, the St Ives space cost its new owner £4,329 per square metre – roughly twice the amount Cornish houses cost per square metre. But that outlay is a mere drop in the ocean compared to some of the other parking spaces sold in the UK, as we can now reveal.

Kensington: £400,000

You could have 10 St Ives spots for the price asked for this space in Kensington, west London, back in 2014. Okay, so the Kensington spot is a) underground b) can fit three cars and is c) slap-bang next to the Royal Albert Hall, but at well over 10 times the UK average salary, it was clearly destined to accommodate some exclusive wheels.

Skip advert
Advertisement
Skip advert
Advertisement - Article continues below

Hyde Park Gardens: £350,000

If the St Ives spot has the distinction of being relatively affordable in this company, and the Kensington space offers secure underground parking, this open-air bay in Hyde Park Gardens is assertively priced, if nothing else.

And while the address is unquestionably desirable, the lease on this bay – which had just 88 years left to run when it was offered for sale last year – arguably makes a (very) long-stay car park a sounder proposition.

That may explain why the bay was originally listed for £350,000 in 2016, but remains on Knight Frank’s books with a reduced £300,000 price and 87 years remaining on its lease.

Islington: £120,000

This Islington spot represents relative value for money, not least because it contains three parking spaces in a secure, gated underground car park. At 4.57x2.44 metres you may wonder how three cars can fit in such a space, but this modern bay boasts a double-height lift system to accommodate cars double-decker style.

Basildon, Essex: £400,000

For comparison, head 35 miles east of Kensington to Basildon and you can buy an entire car park for the same price as a spot in central London. With 91 spaces, this commercial property is situated closer to Basildon’s business parks than its high street.

Would you ever consider buying a car parking space? Let us know your thoughts below...

Skip advert
Advertisement

Find a car with the experts

Skip advert
Advertisement

Most Popular

New Kia PV5 Passenger MPV undercuts the VW ID.Buzz by a huge £25k
Kia PV5 Passenger - show front

New Kia PV5 Passenger MPV undercuts the VW ID.Buzz by a huge £25k

New entry into the electric people carrier market undercuts the VW ID. Buzz by a significant margin
News
29 Apr 2025
Car Deal of the Day: BMW’s ultimate luxury SUV at an unusually low price
BMW X7 - front

Car Deal of the Day: BMW’s ultimate luxury SUV at an unusually low price

German firm’s flagship SUV could never be called cheap but it is exceptional value at £735 a month – making it our Deal of the Day for Sunday 27 April
News
27 Apr 2025
New Volkswagen ID.3 Match 2025 review: attractive price boosts EV’s appeal
Volkswagen ID.3 Pure Match - front

New Volkswagen ID.3 Match 2025 review: attractive price boosts EV’s appeal

The value-focused Volkswagen ID.3 Match performs well and is easy to live with
Road tests
28 Apr 2025