An underground parking space opposite Harrods in Knightsbridge has been listed for £250,000, nearly matching the average UK house price. The space, located in the Basil Street car park, measures just 2.5 x 4.2 metres, making it too small for large luxury cars like the Rolls-Royce Phantom or Maserati Quattroporte.
The listing by estate agent Knight Frank describes the space as “ideally located” with 24-hour security and private lift access. The leasehold has 82 years remaining, with an annual service charge of £780.
Johnny Thalassites, Kensington and Chelsea Council’s lead member for environment, planning and place, expressed frustration at the high price, noting the borough's housing shortage. He said the council is building 600 new homes, including 300 at social rent, to address local needs.
The average house price in Knightsbridge is £2.75 million, roughly ten times the UK average, according to Foxtons.
