Garage near Mayfair is being sold for £750k – 3 times the average UK house price

Mayfair is notoriously one of the most upmarket districts in the UK.

It’s a stone’s throw from leafy Hyde Park and home to world-renowned restaurants, hotels and luxury shops.

So to buy property in the area, you’d need a pretty hefty bank balance.

While you may think that the eye-popping prices are justified for the elegant Georgian townhouses, the same can’t be said about the cost of garages in the area.

London parking spaces near upmarket Mayfair are being sold for £750,000, which three times the price of the average home in the UK.

The lot, which can fit two cars, is being marketed as being "moments from the world-renowned Selfridges store and Oxford Street".

Along with the garage, buyers get 24-hour security and access on to Portman Square, Marleybone.

As of July this year, the average property in the capital sold for £661,403, while the UK average was valued at £254,624.

Properties in Portman Square have an overall average price of £1.7 million over the last year, according to RightMove.

One flat in Orchard Court where the space sits sold for nearly £8million in 2017.

Estate agents Manors London is advertising the "double garage space available within this 24 hour portered residential building on the east side of Portman Square, moments from the world-renowned Selfridges store and Oxford Street".

The garage in Orchard Court is around 29.5ft by 10.5ft, so could fit super cars such as a £364,000 Rolls Royce Phantom that are around 6.6ft wide and more than 18ft long.

A £270,000 Lamborghini Aventador would also fit in the space as it is over 15ft long and also 6.6ft wide.

Another parking space around two miles away, opposite Harrods in Knightsbridge, is also being sold for £250,000 – but is too small to fit a large car such as a Rolls Royce.

The double space in a gated building is 8.2ft by 13.8ft, making it slightly shorter than the average parking space in the UK – which is 7.8ft by 15.7ft.

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