How much would you pay for a parking space?

Having your own parking space is great fun, I would imagine. If you own one, then maybe you love it so much you have considered sleeping in it or taking your annual summer holidays there. Well, you need to do something to get your money’s worth out of it.

However, no matter how you like the sound of a private parking space you wouldn’t want to pay a blooming king’s ransom for it, would you? I mean, you don’t think that £400,000 sounds reasonable for this kind of thing, do you?

Incredibly, someone just put up for sale a parking space near the Royal Albert Hall, in Kensington in London, for this amount. That’s 15 times the average salary in the UK and 2.5 times the price of the average house in the country.

There was a cheaper option nearby

If this isn’t a sign that the world has gone truly bonkers then I don’t know what is. Of course, the person who buys this parking space will have bags of money but I’m not sure we can call them a financial genius. After all, there is a far cheaper option just a few hundred yards away from their expensive new strip of tarmac.

For the price this rich fool pays for their own parking space they could have parked their car in a nearby NCP space for over 30 years. Sure, it would mean rubbing shoulders with the unwashed proles and perhaps suffering some unpleasant urine fumes in one’s nostrils now and then. However, I’m sure that there are plenty of better uses I could find for that £400,000 thn by doing this.

For a start, I would hire a chauffeur and let him worry about parking the car when I was in Kensington. Let him suffer the smells and indignity of public parking spaces while I count my money and live the good life.

  • How much would you pay for a parking space?

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