Most expensive UK parking space named

November 5, 2015 | By | In Advice

A London car parking space has been named the most expensive in the United Kingdom, with its price reaching nearly £500,000.

The triple-bay space in Kensington House’s Private Car Park was put on the market for £480,000, but after stamp duty it cost £494,000.

On top of the space itself, the services involved in having the spot, such as 24-hour CCTV surveillance, a valet service and an “exceptional chauffeur lounge”, adds an extra £1,500 per year to the bill.

The space alone cost more than double the average house price in the UK, £205,240, with the spot in South Kensington actually costing more than the London housing average of £493,000, showing the atmospheric prices for the capital are not exclusive to the housing market.

The findings, posted on citybaseapartments.com who used data from justpark.com, also showed the most expensive public parking spots in London, with many of the rates costing more than the Penalty Charge Notice for a parking offence of £30.

A 4-hour charge for a space in Covent Garden can cost £40, whilst a 3 or more hour slot in Brewer Street, Soho can cost £50.

Also shown were the prices for airport car parking, and it made grim reading for British travellers.

A 7-day space at London City Airport costs £315, almost triple for the same time for Hanada International Airport in Tokyo and double the price of a space at JFK International in New York.

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