Middle Eastern Royal pays £21m for underground London car park to house collection of 80 supercars

The price is  well over double the £205,170 that buyers on average spent on their first home in the UK last year

Josie Co
Business editor
Thursday 09 February 2017 11:15
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The anonymous royal has paid £21m for an underground car park in the glitzy Knightsbridge neighbourhood
The anonymous royal has paid £21m for an underground car park in the glitzy Knightsbridge neighbourhood

Those who have ever dared to try, will know that parking in central London can prove an impossible feat, so one Middle Eastern royal with a fleet of dozens of vehicles, has come up with a nifty solution: Just buy a whole car park.

The anonymous royal has paid £21m for an underground car park in the glitzy Knightsbridge neighbourhood, not far away from luxury department store Harrods, where he will be housing his collection of 80 supercars, the Times reports.

The paper reports that for his money he’ll be getting extra wide parking bays, cushioned pillars to avoid expensive paint-job damage, licence-plate recognition technology upon entry, and CCTV everywhere.

When the car park was being run by Waterbridge Estates, members paid up to £35,000 a year to park their cars there, and spaces sold for as much as £450,000, according to the Times.

That’s well over double the £205,170 that buyers on average spent on their first home in the UK last year, according to a report published by Halifax in January.

Knightsbridge, in the Royal Borough of Kensington and Chelsea, and especially the area around Harrods, has long been known as a favourite spot for the ultra-rich to park their top-of the range supercars.

Last year, the owner of a fleet of gold supercars made headlines when he was hit with hundreds of pounds in parking fines.

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