Sold! Single garage goes for £ 360,000

A SINGLE garage has sold for £ 360,000 – £ 72,000 more than the price of the average house.

But you’ll need handy parking skills to use the 146 sq ft space because it is tucked away in the corner of a cul- de- sac and up against a wall.

The “rarely available” garage is in exclusive Crescent Place, off the Brompton Road in Chelsea, west London.

It has an electric up- and- over metal door and a security bollard to prevent anyone who might break in being able to drive off.

Savills sold the garage at auction on Tuesday with a guide price of £ 180,000. An online bidder paid double that, such is the shortage of parking in the Royal Borough of Kensington and Chelsea. The £ 360,000 works out at almost £ 2,500 per sq ft, a price normally only achieved on London’s finest homes and well over the average house price in Britain of £ 288,000.

For that money the buyer could have got a Rolls- Royce Phantom – with £ 42,000 to spare – or two Ferrari 488 supercars, although a 19ft Roller would almost certainly be too long to fit inside.

The price is believed to be a record for a single garage which will be used for its intended purposes rather than converted for another use.

Larger lock- ups have sold for more but they were bought for their development potential.

Savills’ Chris Coleman- Smith said: “We expected to attract a lot of interest. While strong bidding pushed the price up to £ 360,000, the average price of property in the SW3 postcode is £ 2.4million. For local people who have cars, the chance to buy a well located, secure garage simply couldn’t be missed.”

Savills also sold a 67ft- long passageway in nearby Kensington for £ 26,000.