It’s priced below £200,000 despite its location in one of London’s most sought-after neighbourhoods, so it probably won’t surprise you to learn this property in Chelsea is not somewhere you can actually live.
Set to go up for auction on 16 February with a guide price of £180,000 – the cost of a family home in many parts of the country – this single-storey garage offers 13.5sq m (146sq ft) of off-street parking space, a highly prized commodity in this part of town.
It’s not even a double garage – and you need to be good at tight corners – but it does boast an electricity connection.
Auctioneers at Savills say this kind of property is “rarely available”, and describes Crescent Place, where it sits, as “a small exclusive cul-de-sac”. Homes in SW3 change hands for an average of £2.4m, even without their own parking.
“Garages are an increasingly rare commodity in central London, where even some of the highest-value properties lack off-street parking,” said Chris Coleman-Smith, head of Savills auctions. “For local residents who have invested in cars as well as their homes, the chance to purchase a secure and conveniently located garage simply can’t be missed.”
The garage is close to South Kensington tube station and tourist attractions such as the Natural History museum and the Royal Albert Hall. “This also gives it great potential to be rented out if not in use,” said Coleman-Smith.
Garages and parking spaces have been sold for more money. In 2014, a space in an underground car park right next to the Albert Hall was marketed for £400,000, while the same year a garage in London sold for £550,000.