Thursday, June 24, 2010

A little car parking space by the sea... a snip at just £60,000

The Daily Mail reports today that a single car parking space in a Cornish seaside town has been sold for nearly £60,000 - which was £20,000 over the asking price.

The small 20ft by 12ft plot of land was snapped up by a local resident who was determined to get the sought-after space in St Ives, Cornwall.

The cost of the space is three times the average annual salary in the town.

Estate agent Jonathan Payne who conducted the sealed bid auction said: 'I cannot remember one going for more money.

'Spaces are always in short supply in St Ives and even going back years, they made a premium price.'

He said there was a chronic lack of car parking space in the old part of the town.

The small plot of land is beside the entrance to the council-owned Island car park.

St Ives councillor and shop owner Colin Nicholls said it was a 'massive price', saying: 'I would rather do without a car than pay that kind of money.

'It is overpriced but that's how market forces operate.'

To view the full article click here.

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