Would you pay over 500,000 pounds for a garage?!

Posted: 08/05/2012

If the answer is yes, than here is your perfect opportunity to purchase a pricey parking place in a prime location! The exact asking price for this freehold, double garage is £525,000 and it’s located on Rysbrack Street, Knightsbridge ‘moments away from Harrods’ as boasted by the sellers.

The extortionate price for this garage calculates to £1,500 per square foot, which is actually less than the average rate for Knightsbridge according to Savills Estate Agent’s, but that price usually includes a room or two rather than a concrete box.

Robert Lewis, an associate of WA Ellis Estate Agents who are advertising the garage, said that it will appeal to the people who are living in large, garage free homes nearby who can be paying up to a quarter of a million pounds for a private underground car parking space.

But if you dream of renovating this garage into living accommodation, I’m afraid that won’t be possible as there’s a covenant on the plot, meaning it can only be used for cars.

In comparison, there was a shed on the market in Highgate which was marketed for £259,950 but that does include a kitchen and a shower room, unlike the garage which has electricity as its only interior feature!

Amanda McGovern, Pali Ltd
www.paliltd.com

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