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Garage in Kensington on sale for £300,000

The advert was placed just over a month ago after a garden in nearby Chelsea sold for over £80,000

A garage in the west London borough of Kensington is on sale for £300,000 – a princely sum that appears to be a symptom of rocketing property prices in the capital.

The garage, measuring 240 sq ft, is large enough to store two cars, according to the estate agent which is advertising the property as “generously proportioned”.

Foxton’s listing boasts that the garage, which is on sale for nearly £50,000 more than the average house price, is “located in a highly sought-after area” and “nestled in a quiet mews moments from Hyde Park".

It adds: “The property is ideally located for easy access to Kensington High Street where you will find a comprehensive range of amenities, fashionable restaurants and bars.”

The leasehold of the garage comes with a £25 annual ground rent charge.

The garage is one of one of 50 parking spaces Foxtons is advertising in London, ranging from £15,000 to the £300,000 Kingsley Mews garage, the Evening Standard reported.

The advert comes after almost a month after a small garden in nearby Chelsea, West London, sold for £84,000.