Have you ever wondered what it would be like to have a guaranteed parking space right outside your door each and everyday? This could be a dream come true, especially for those of us who live in London. If you are lucky enough to find a parking space, you are one of the lucky ones, but you might also be sitting on a goldmine!
A parking space outside London’s Hyde Park Gardens was recently up for sale at £350,000! That works out to be around 77% more than the average price of a house. This is a trend that is taking off in other parts of the world too. New York’s Manhattan recently saw a parking space go for around $1 million.
We can see why this has become a trend, having a safe place to park one’s car is important in today’s world. Especially if you happen to be near transport links and the city. The space in London, as it stands, still has 88 years remaining on the lease. The sales agents describe it as being close to the M1 and several London Underground stations. It is also close to the new Crossrail service which is an added bonus.
The research was carried out by YourParkingSpace.co.uk has shown quite a few interesting statistics, among them, that a double garage in the New Town conservation area of Edinburgh can offer as much as £85,000 for both spaces! That’s a pretty tidy sum, especially if you happen to be located close to a train station or other transport link.
However, this idea of extra income might not be for everyone, for a start we will likely be finding a space for our own cars after a long day’s drive, let alone allowing this private space for others. There might even be other issues with strangers parking their cars in your driveway. This could cause extra problems if they have paid up for a couple of months.
Buying parking spaces has also become a thing in recent years, sure if you happen to have the cash to spare, the luxury of having a permanent parking space forever is an enticing one! Manchester Airport boast around 45 ‘executive individual parking spaces’ that are actually up for sale. The prices average around £35,000 per space, buyers would probably be frequent flying millionaires! The same spaces can also be rented by those of us who are not on the Forbes Rich List. These will set us back around £100 a month and are suited to both cars and larger vehicles alike.
In the meantime, for those of us looking for free or low cost parking, keep an eye on yellow lines as well as parking meters. Not sure about the everyday road signs? Talk to your Want Driving Lessons tutor and find out more on hassle free parking in the city. Love our blog? Follow and share our posts with your friends on Twitter and Facebook. Also stay tuned to our blog for more fun and informative motoring articles!