London parking space up for sale for £400,000

Those with a spare £400,000 to blow may just be interested in a parking space that has become available in London.

At more than twice the price of an average house in the UK, according to Land Registry figures, a gap in a private facility in Kensington, west London, is up for sale.

For the hefty price tag, the buyer will be able to leave two cars just a stone's throw from the Royal Albert Hall.

What's more, local estate agents have suggested there is already plenty of interest in acquiring the parking space, despite the fact motorists could afford to park 800 metres away in the nearest NCP car park for more than 31 years for the same money.

One person even sold an identical plot next to the space that is currently up for sale for £275,000 just ten months ago, illustrating how far prices have risen in this unusual market in a relatively short period of time.