'Exquisite' underground parking spot goes on sale for almost £500,000

The Kensington parking spot - if sold - will break previous records for most expensive car space

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The most expensive car spark slot in Britain has gone on sale in London for almost £500,000 - breaking previous records by more than a £100,000.

The triple-bay space in Kensington is being sold by Foxtons for £480,000: almost twice as much as the average house price in the UK.

Your hard-earned half a million will get you a private slot in Kingston House North’s “exquisite underground parking development”.

Never one to gild a lily, Foxton’s full advertisement for the space, which is marketed as worth between £390,000 and £480,000, reads: “Boasting an exceptional location, this exquisite underground parking development boasts a secure, prestigious and exclusive environment, while offering a fantastic spacious triple bay.”

The “secure” underground parking complex offers a range of complementary benefits, including 24 hour security, valet service, an “exceptional” chauffeur lounge, and number plate recognition.

If sold, the spot will break the previous record held by a two-car underground parking spot also in Kensington. The spot, near the Royal Albert Hall, sold for £400,000 in February last year.

One of the most expensive areas in the country, homes in Kensington frequently sell for record amounts.

A two-bedroom flat was recently listed at £2million, while a four-bedroom terraced home is on the market for £5million.

The news comes amid spiralling house prices. Online property listing firm Rightmove claimed that asking prices for homes coming onto the market had almost returned to the all-time high experienced last summer.

Across England and Wales the average house price remains at around £280,000, according to the listings company.