In London Mayfair, a parking spot pricier than average U.K. home
By Bloomberg
Eight parking spaces in London's upscale Mayfair district are on sale for 2.25 million pounds ($3.6 million), a price that would value each spot higher than the 274,000-pound average for a U.K. home.
The spaces, in a private forecourt near The Dorchester Hotel and the restaurant Scott's, will be sold as a single lot, broker Carter Jonas LLP said in a statement. The asking price breaks down to about 281,000 pounds per space.
"Collective parking space in Mayfair is a rare commodity," Ashley Coleman, head of Carter Jonas in Mayfair said in the statement. "It is very likely to appeal to a wealthy resident looking for good home for their luxury fleet of vehicles."
London's reputation as a safe haven for foreign investors has attracted affluent buyers to districts including Mayfair, Knightsbridge and Kensington. Luxury home values in the capital climbed 75 percent in a little more than five years and are now 38 percent above their previous peak, broker Savills Plc said on Sept. 10. U.K. home prices rose 11.7 percent in the 12 months through August to a mix-adjusted average of 274,000 pounds, the Office for National Statistics said today.