Parking space in Cornwall set to sell for up to £40,000

Auctioneers believe prime location in St Ives will draw interest from residents and holiday home owners alike

The space in the desirable Cornish town is in walking distance of the town centre, beach and harbour (PA)

A parking space in a popular Cornwall beach resort is set to go under the hammer for an estimated £40,000, auctioneers say.

The parking space in St Ives, which is known for its surfing beaches, art galleries and restaurants, is in walking distance of the town centre, beach and harbour.

Despite measuring just 4.4m by 2.1m (14ft 5in by 6ft 11in), auctioneers believe the space in the private Tregenna Hill car park will draw interest from residents and holidaymakers alike.

Senior auction valuer Katie Semmens, from land and property auctioneers Clive Emson who are holding the auction, said there was a growing demand for this kind of property.

“We have noted continued strong demand for car parking spaces and lock-up garages over recent years,” she said. ”Car parking space of this kind is at a premium in St Ives.

“The popularity of the resort, combined with the security features of this space and its location just a short distance from the picturesque harbour are sure to draw keen interest at auction.

“We’re expecting bids from residents, as well second-home and holiday home owners seeking guaranteed parking in the town – even at the peak of the summer.”

The parking space has the remainder of a 999-year lease from January 1988 and is going under the hammer on 3 November.

It is not the first time parking spaces in the town have sold for such high values at auction.

In August, a space in the town was put up for sale for £51,950.

In 2012, five spaces on Barnoon Terrance in St Ives were sold together for more than £160,000. In the same year, three spaces in the town sold for £50,000, £55,000 and £56,000 respectively at auction.

Additional reporting by PA