Parking space near Harrods on sale for £250,000

A parking space in a wealthy London shopping district is on the market for £250,000.

The private parking space opposite Harrods has been listed by estate agents Knight Frank.

The agents say the lower-ground floor space measuring 10.5 square metres is along Basil Street, Knightsbridge.

The average property in Knightsbridge costs £2.83 million, according to Foxtons estate agency.

A floor plan says the space measures 4.62  by 4.57 metres (15.2 x 15 ft).

The average UK parking space is 2.4m wide by 4.8m long, according to The AA.

An advert for the space says there is about 82 years left on the lease.

It also says the car park was built in the early 2000s and offers 24-hour remote access and security.

It adds: “Basil Street is moments away from the world-class hotels, restaurants, luxury boutiques, shops, amenities and museums that the area has to offer.

“Knightsbridge Tube station is within close walking distance.”

Kensington and Chelsea councillor Johnny Thalassites, lead member for environment, planning and place said: “We’re in desperate need of housing and as a borough with some of the most expensive land and property in the UK – it’s very frustrating to see a six figure price tag on a parking space and disheartening for those looking to get on the property ladder.

“It’s a major challenge for us as a council as we look to build new homes. Despite the challenge, we’re making progress, with the first of our 600 new homes – 300 at social rent – now under construction in Hewer Street and Kensal Road.”

Knight Frank was contacted for comment.

It comes as a Bath city-centre parking space sold for £115,000 just two days after being listed online in early September.

The estate agent had listed the spot as “very rare”.