Would you pay $849,000 to park your car in a garage?

In London, you can. A London real estate agency is offering city-dwellers a two-car garage for £525,000.

By , Guest blogger

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    A classic Rolls-Royce leads a procession of more than 100 Rolls-Royce vehicles down London's Regent Street in 2011 in celebration of the 100th anniversary of the brand's Iconic "Spirit of Ecstasy" Flying Lady Mascot. If you own an expensive classic or two, you might want a $849,000 parking place for sale in London.
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The plight of the urban-dweller is generally this: parking in a big city, anywhere in the world, is expensive, risky or both. London, England is no exception to this rule, and a space in a private, underground garage can cost you as much as $405,000.

That’s a lot of money to spend, especially when you’re still at the mercy of other space holders. Your vintage Aston Martin DB5 may be priceless to you, but do you really think the champagne-impaired escort climbing out of the Porsche 911 Turbo parked next to you will care about door dings?

If you live near Harrods in London, real estate agency WA Ellis can offer you an alternative. As The Guardian explains, the agency is offering up a two-car garage on Rysbrack Street, for the price of £525,000 ($849,000). That money buys you about 350 square feet of space, which is more than enough for a DB5 and an Aston Martin Cygnet.

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Robert Lewis, an associate at WA Ellis, admits that interest in the property isn’t yet “at the level we are asking.” Still, a garage of this size in central London is a rarity, so it’s only a matter of time before a buyer with deep enough pockets comes along.

While $849,000 is expensive for a stand-alone garage, it’s a relative bargain for real estate in the area. If you’re thinking about snapping it up and converting the property to a flat, think again: deed restrictions prohibit converting the space into anything but a garage. 

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