£50K for a parking space

Normally when you see car parking spaces selling for crazy prices, they're in London. These five being offered for auction with a guide of £50,000 each are in St Ives, Cornwall.

You might think the auctioneer is having a laugh, but the firm selling them, Bradleys, has already turned out an offer of £100,000 for two of them. "We're waiting because we're hoping we might get even more," St Ives branch manager John Harvey told the Cornishman newspaper.

£90K for a space on Park Lane
£90K for a space on Park Lane
We admire the entrepreneurial spirit behind their development. Previous owners of an adjoining house in this posh seaside town tried and failed to get planning permission for a two-storey house on the plot. So the new owners came up with this wheeze. St Ives might not be London but it does attract rich second homers who like the squashed-against-a-hill charm of the place but find many of the desirable homes don't come with parking.

Of course London is still home to bonkers prices for spaces. Top of the list on a Foxton search was £87,500 for 9sq m to call your own in an underground car park on Park Lane, just a bit more than this three-bedroom terraced house in Middlesborough.

This goes both ways of course - if you've a nice parking space that doesn't get used you can sell, or less drastically, rent it out through a website such as parkatmyhouse.com

Even if you do use your parking space, perhaps you shouldn't. As PHer ghibbett found out last year when insuring his BMW M3, the premium was cheaper when parked on the street compared on his driveway or in his garage. So rent out your space, put your P&J on the street and say hello to cheaper motoring. Or just be glad if you don't live a place where parking's so insanely competitive.


P.H. O'meter

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Comments (68) Join the discussion on the forum

  • fatboy18 16 Nov 2012

    Thinking about it, this price is not that bad, its almost on a par with some of the camping and parking prices for the Le mans 24hr! biggrin

  • Smanks 16 Nov 2012

    Bladedancer said:
    Just because you CAN do somthing doesn't mean you SHOULD do it.
    That's the kind of thinking that has sent property prices sky-high and caused the financial crysis.

    For instance, you CAN stick a fork in your eye, but you probably SHOULDN'T do it smile
    Good analogy rolleyes

  • Matt UK 16 Nov 2012

    Bladedancer said:
    Just shows there are many truly dumb people with way too much money
    No it doesn't. It just shows there are people out there who view things differently to you and have the means to put their desires into reality.

    I'm sure the picker in Asia is astounded at what I've just paid for a pack of PG Tips - but I don't think I'm dumb, I certainly don't think I have too much money, but I am enjoying a nice brew.

  • vpr 09 Nov 2012

    chezgilo said:
    Anyone who says negative things about St Ives has obviously not stayed in the Barnaloft or Piazza apartments that look over the best beach - Porthmeor. I've been pretty much every year since I was born and it's a wonderful holiday. The apartments look right over the beach which has the best sand I have ever experienced (compared to Caribbean, Greece...), it's just the right size (not vast like some Cornish beaches or too small), there's brilliant rock-pooling for the kids, when the tide goes out it doesn't take long to walk to the waters edge, when it's in it's fun as it comes relatively close to the apartment wall (in high tide it can actually crash up the tunnel that link the apartments with the beach), it has the amazing sunsets that can be watched from the sofas in the lounge (Martini in hand), it's super clean, the surf is often excellent and the Tate Gallery looks over the beach (always worth a look). There's also a great walk to 'Clodgy point' to blow out the cobwebs. I can't think of anything negative about it.

    If you know the best places to go out to eat (The Mermaid for example), stay somewhere similar to where I stay, avoid anywhere tacky like the archade, potter around the art galleries, I can't see anyone having a bad time.

    Of course you could come to St Ives, stay somewhere awful and spend most of the time on the harbour front which is going from my 'perfect' extreme to the other.

    Oh and how could I forget - most of the apartments come with an underground private garage! If you bring a second car then a 30 minute wait for a space at the hill top car park around the corner is all that's required and £24ish at the end of the week.

    I'm not surprised that those parking spaces are up for so much. The pre-mentioned two bed apartments are worth about a million.

    Edited by chezgilo on Friday 9th November 11:43
    Well said that chap.......Go down there a few times every year.....nice relaxing place to be where any one of the multiple beaches are spotless and all within a 2 min walk.

  • Bladedancer 09 Nov 2012

    Smanks said:
    Just because they can afford to spend £50k on something that makes their lives more convenient doesn't mean they are dumb, they're hardly going to be desperately looking down the back of the sofa to make up the last few quid, are they?
    Just because you CAN do somthing doesn't mean you SHOULD do it.
    That's the kind of thinking that has sent property prices sky-high and caused the financial crysis.

    For instance, you CAN stick a fork in your eye, but you probably SHOULDN'T do it smile

    Paying x times more than what something is worth isn't the brightest idea. That's the kind of thing dumb people do.
    And it's ruining life for everyone else as all the other bright sparks now decide to raise prices x times.

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