London parking space for sale in Hyde Park... at £350,000

Parking space

Parking space - Credit: Archant

If you have a parking space in London, consider yourself lucky – you could be sitting on hundreds of thousands of pounds.

A single space in London’s Hyde Park Gardens recently went up for sale at £350,000 – that’s 77 per cent more than the UK’s average house price. But that’s nothing compared to Manhattan in New York, where a space in the centre of town recently sold for $1 million.

The London space has 88 years remaining on the lease, and is described by the agents as close to the M1 and London Underground stations, as well as the new Crossrail service.

Research from has shown that a double garage in the New Town conservation area of Edinburgh offers much better value, at £85,000 for the two spaces. But the parking space finder offers monthly deals on parking in Edinburgh, with the most expensive space topping out at a much more affordable £195 per month.

“The cost of this parking space is eye-watering,” said Harrison Woods, managing director of the parking space rental broker. “You would have to rent out the most expensive parking space in Westminster listed on for more than 50 years and it would still be cheaper than purchasing this space!”

Around Manchester Airport there are currently 45 ‘executive individual parking spaces’ available for £35,000 each, while a rented monthly space suitable even for large vehicles will cost around £100, says the firm.

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