Underground parking spot on sale for £250,000 in Knightsbridge

Finding a parking space in the centre of London is one of driving’s great challenges. One way to greatly improve your chances is to simply buy your own, but we’ve recently learned that it isn’t a cheap option.

According to The Guardian, estate agent Knight Frank is selling space K28 in Basil Street car park in the district of Knightsbridge for an eye-watering £250,000. On top of that, there’s still £780 to pay every year in service charges to maintain the 2.5m x 4.2m underground space, which includes private on-foot entrances and 24-hour security.

Knight Frank is quick to mention how “ideally located” the space is, being nestled in Knightsbridge opposite the high-end department store Harrod’s. You’ll only be a short walk away from the five-star Knightsbridge Hotel and the many embassies found in the area: Iceland, Colombia, Denmark and Peru, to name a few. For the millionaire with a love of literature, you’d have the pleasure of parking near to the home of Jane Austen, author of Pride and Prejudice.

It’s an excellent location to be sure, but would be enough to part someone from a quarter of a million pounds? That’s the average cost of a house in the UK – all of that on a parking space. For that money you could also buy two tickets on Virgin Galactic and see the edge of space, or a two-night stay in the most expensive hotel room in Las Vegas, the Empathy Suite in the Palms Casino Resort.

And what about the potential car you could buy for the same price? For that budget you’re squarely in supercar territory: high-end Porche 911s, Aston Martin Vantages and AMGs. If you were to ask us to drop that money on something with an engine, we’d go for the Lamborghini Aventador: a V12 engine that can go to 60 in less than three seconds, a four-wheel turning system which keeps it planted and sporty in the corners, and a carbon fibre body designed with the company’s signature sharp edges.

Alternatively, if you (or your driver) are looking for something a little more sedate, the Rolls Royce Ghost will set you back roughly £240,000. You could be cruising in the lap of luxury: inside the leather-upholstered rear finished with a starlit roof, or up front controlling its 6.75-litre turbocharged V12 engine in near silence. However, you can’t be greedy and have both: its 5.4m length won’t fit in the Basil Road spot!

If you favour quantity more than quality, you could stock your garage with ten Nissan Qashqais or 16 Ford Fiestas for the same price. You might struggle to get all of them in any parking space, though.

It’s a huge amount for a strip of tarmac, but the minds of the hyperwealthy work differently after accruing enough of a fortune to make this seem like a sensible purchase. An unidentified millionaire purchased an Allosaurus fossil for £1.9 million. Mike Tyson bought a solid gold 24-karat bathtub for £1.6 million. Nusret Gökçe – known on the Internet as Salt Bae – opened a high-end steakhouse, fittingly, in Knightsbridge, serving £600 steaks covered in gold leaf. All of these seem like sensible things to buy for someone who has tens – or hundreds – of millions in the bank.

MSG Summary

Would you dip into your millions to buy your one private parking space in one of the most expensive locations in London, or would you save your money and save up for a superyacht?

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