The level of demand for property in London is huge
The demand for London property is such that many leading estate agents now offer assistance in finding garages, parking areas and sites in the English capital. There is a huge level of demand for all manner of property in London that even garages can provide a fantastic return on investment or provide an owner with a sizable profit.
With so many people looking for a regular parking spot in the capital, the long term investment in a parking spot makes sense, which is indicative of how varied the London property market is. In February 2016, a single garage space in Crescent Place in Chelsea sold for £360,000. This was twice the expected price at auction with professionals citing close proximity to South Kensington tube station and some of the most desirable streets in London as a reason for the high price.