A single parking space in Fulham, South-West London, has been put up for sale with an eye-watering price tag of £150,000, highlighting the growing trend of exorbitantly priced parking spots in major UK cities. Located in a secure underground garage beneath a gated residential complex overlooking the River Thames, the space promises 24-hour security and an electric vehicle charging point. Buyers, however, should be aware of additional costs, including a service charge of £542 annually and a ground rent of £20 per year. Access to the plot, measuring just over 10 square metres, is secured via a fob, with automatic number plate recognition (ANPR) bolstering security. The space is currently listed by the estate agent Purplebricks.

This steep price is notable but far from unprecedented within London’s competitive parking market. Parking spaces in the capital have seen prices soar, often surpassing the cost of homes outside London. For instance, a double parking space in the prestigious Mayfair area of Portman Square is on the market for an eye-watering £750,000, eclipsing the average UK house price by a significant margin. This Mayfair spot, covering just over 28 square metres, offers the convenience of proximity to Oxford Street and Selfridges, alongside a 24-hour porter service, underscoring the premium associated with central locations.

Similarly, a triple-bay underground parking space in Kensington has set records with a £480,000 asking price. This luxury spot at Kingston House North features not only 24-hour security but also a valet service, chauffeur lounge, and number plate recognition, reflecting the bespoke amenities that contribute to sky-high valuations.

Parking spaces in London's prime neighborhoods regularly sell for prices that would secure substantial properties elsewhere. For example, a space near Hyde Park Gardens, an outdoor spot measuring around 19.5ft by 8ft, has been listed at £350,000. Its appeal is boosted by proximity to transport links such as Marble Arch and the M1, as well as anticipated Crossrail services, illustrating how transport connectivity further inflates prices.

Meanwhile, other locations like Knightsbridge have seen parking spaces fetch around £250,000, a figure comparable to the cost of three-bedroom houses in cities like Manchester. A space near the Royal Albert Hall in Kensington has also been marketed for £400,000, featuring large secure underground parking equipment and premium security measures.

These examples highlight a broader phenomenon: the growing scarcity and high demand for secure parking in London’s most sought-after areas have transformed parking spaces into a lucrative asset class. The combination of limited availability, prime locations, and extensive security or luxury features has pushed prices into levels that seem astonishing when compared with typical UK property values.

Despite the hype, buyers should weigh the ongoing fees and maintenance costs associated with these spaces alongside their purchase price. In the case of the Fulham parking spot, commitment extends beyond the initial £150,000 purchase to annual service charges and ground rent, costs often overlooked when focused solely on headline prices.

Overall, the sale of high-value parking spaces in London is a striking reflection of both urban living challenges and the premium placed on convenience and security in crowded city centres. It is a market where the value of a parking spot can rival or even outstrip traditional residential properties, signalling how lifestyle and location intersect to redefine property investment in metropolitan Britain.

📌 Reference Map:

  • Paragraph 1 – [1] (Manchester Evening News)
  • Paragraph 2 – [1] (Manchester Evening News), [3] (Evening Standard)
  • Paragraph 3 – [4] (The Independent)
  • Paragraph 4 – [2] (Evening Standard), [5] (The Independent)
  • Paragraph 5 – [6] (Evening Standard), [7] (The Independent)
  • Paragraph 6 – [1] (Manchester Evening News)
  • Paragraph 7 – [1] (Manchester Evening News), [2] (Evening Standard), [3] (Evening Standard), [4] (The Independent)

Source: Noah Wire Services