A parking space in Bath just sold for more than £100,000

The spot presents a ‘very rare opportunity to acquire a good-sized parking space’, estate agents say

Bath parking space sells for more than £100,000 (Whiteley Helyar)

An underground car parking space in Bath has sold for over £100,000, which is more than a third of the price of an average house in the UK.

The parking spot, which was listed by estate agent Whiteley Helyar, is situated in a Circus Mews garage that has an electric gate and lighting.

A brochure accompanying the listing described it as a “very rare opportunity to acquire a good-size parking space”, which is “just a very short walk” from “the heart of the city”.

“The garage occupies a highly convenient and sought-after position, just a very short walk from the vast selection of shops, galleries and restaurants both in the heart of the city and in the pedestrianised Margaret’s Buildings,” it said.

The space was originally listed with an asking price of £115,000. Whiteley Helyar did not specify how much it sold for but confirmed that the figure was above £100,000.

This is more than a third of the price of an average house in the UK, which is currently £266,000, according to the Office of National Statistics.

The estate agents told BBC that the last time a parking space became available to buy in the same garage was around eight years ago.

The sale comes after Bath and Northeast Somerset Council announced in February that it was considering raising parking charges in the city to help improve air quality.

In a report, titled “Addressing air quality and traffic management issues through the management of parking behaviour on the highway”, the council proposed that on-street parking should also include Sundays.

It said introducing charges for on-street parking would encourage residents to use the Park & Ride bus service, which operates seven days a week.

The council’s proposed change would “ensure that the cost of parking does not undermine the use of more sustainable alternatives such as the Park & Ride”, the report added.

Additionally, the report stated that street parking could see a 10p-per-hour increase each year for the next three years.

The plans have been approved by the council’s cabinet members for transport. Businesses and residents are due to be consulted on the proposals before the changes come into effect.