FACT: parking is getting more expensive, especially in fast-growing cities. But we didn't know it was getting this pricey.
A well-to-do British car lover has just purchased their very own parking spot in a prestigious suburb in west London for a whopping £200,000 (AU$300,400).
According to UK site Small World News Service, the lucky buyer gets 24-hour remote access to a secure 26 square metre parking space located in Basil Street, Knightsbridge, directly opposite the iconic Harrods department store.
Harrods Estate agents boasted the spot is big enough for "a large vehicle or, alternatively, two smaller vehicles" - we read that as a Bentley/Rolls-Royce, or two Aston Martin Cygnets.
Despite the mammoth spend, the buyer also has to fork out £710 (AU$1066.50) per year for an annual service charge - which they will have to pay for the next 99 years.
The spot is on a 99-year lease, with the average hourly spend working out to about 32 pence per hour (AU$0.48) over the full term - a relative bargain when compared to on-street parking in that area of London which can cost up to ten times that amount.
There was also a further condition on the sale of the parking space: the buyer had to live within 400 metres of the parking spot.
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