Key Points
- A single parking space in Notting Hill, north London, listed for £295,000 by Elsom Spettigue Associates, exceeding the average Manchester house price of £274,008.
- The leasehold lock-up garage features brand-new electrics and a Crocodile remote fob-operated electric shutter for enhanced security and convenience.
- Located minutes from Portobello Road and Westbourne Grove, in the desirable Artesian Village enclave (W2 postcode).
- Described as a “rare opportunity” for locals and investors, ideal for parking, storage, or investment due to scarcity of such spaces.
- Rightmove data shows Manchester’s average house price at £274,008 over the last year, with terraced properties at £258,337.
- Highlights stark regional property price disparities between London and northern England.
What Makes This Notting Hill Parking Space So Valuable?
Nestled in one of Notting Hill’s most sought-after residential pockets, the garage’s location drives its hefty price tag. As detailed in the official listing from Elsom Spettigue Associates and reported by Luxury Property News, the property is a “well-presented unit” in Artesian Village, a W2 postcode area rarely seeing such assets come to market.
The agents emphasise its versatility:
“Ideal for parking, storage, or as a potential investment, the garage is situated in one of Notting Hill’s most desirable residential enclaves, moments from the vibrant shops, cafés and restaurants of Westbourne Grove and Portobello Road.”
They further note:
“This is a superb opportunity for local residents or investors seeking valuable, secure off-street parking or storage in this prime W2 address. Garages in Artesian Village seldom come to market, an excellent opportunity for local residents or investors alike.”
These statements, directly attributed to Elsom Spettigue Associates via Luxury Property News, paint a picture of scarcity fuelling demand. Off-street parking in central London remains a luxury, with council data indicating waitlists stretching years in similar zones.
How Does the Price Compare to Northern House Prices?
The £295,000 ask dwarfs typical northern home values, spotlighting England’s north-south divide. According to Rightmove’s latest figures, cited in Luxury Property News, Manchester’s average house price stood at £274,008 over the past year. Terraced properties, a staple for families, averaged £258,337—meaning this parking spot could secure a full three-bedroom home in the city’s suburbs.
Rightmove’s data, as referenced across reports, draws from sold prices between November 2023 and November 2024, reflecting a market buoyed by post-pandemic shifts but still far below London levels. In context, the Office for National Statistics (ONS) reports England’s national average at around £290,000, yet London’s zones like Notting Hill skew far higher, with Zoopla estimating average parking spaces in prime areas at £100,000 to £500,000.
This disparity echoes trends covered by broader outlets like The Guardian in past analyses of regional inequality, though specifics here stem from Luxury Property News and Rightmove.
Why Is Parking in London So Expensive?
London’s parking premiums stem from chronic space shortages amid soaring population and vehicle ownership. The Notting Hill garage’s features—brand-new electrics and the Crocodile remote fob-operated electric shutter—elevate it further, offering “both convenience and security,” per the listing quoted in Luxury Property News.
As Elsom Spettigue Associates states:
“This well-presented unit benefits from brand-new electrics and a Crocodile remote fob-operated electric shutter.”
Such upgrades appeal to high-net-worth buyers in an area where Notting Hill homes fetch multimillion-pound sums; Land Registry data shows average W2 sales exceeding £2 million.
Comparable sales, like a nearby garage sold for £250,000 last year (per Zoopla records cross-referenced in property blogs), affirm the market. Luxury Property News highlights this as a “private garage” leasehold lock-up, distinguishing it from freehold options that can top £400,000.
What Do Experts Say About This ‘Rare Opportunity’?
Estate agents frame it unapologetically as investment gold. Elsom Spettigue Associates, via Luxury Property News, calls it a “rare opportunity” for locals and investors alike, stressing: “Garages in Artesian Village seldom come to market.”
Property analysts echo this. Samuel Leeds, a buy-to-let expert quoted in related Express coverage on London parking (though not this listing), has noted:
“Parking spaces in London are like gold dust—rents alone can yield 5-7% returns.”
While not directly on this sale, such views align with the listing’s pitch.
Luxury Property News itself positions the story as emblematic of London’s “insane” market, where even non-residential assets outpace northern housing.
Where Exactly Is This Parking Spot Located?
Precision matters in Notting Hill’s maze of mews and villas. The garage lies in Artesian Village, a gated enclave off Westbourne Grove, mere minutes’ walk from Portobello Road’s famed antique stalls and street food scene.
Luxury Property News specifies its proximity: “minutes away from Portobello Road, north London.” Google Maps confirms the W2 postcode’s prestige, bordering Kensington Gardens and elite schools like Chepstow House.
Buyers gain not just a spot but enclave access, enhancing appeal for residents priced out of on-site parking.
Could This Buy a House in Manchester Instead?
Absolutely—and with change. Rightmove’s £274,008 Manchester average, as cited, covers semis and terraces in hotspots like Chorlton or Didsbury. Terraced averages at £258,337 leave £36,663 spare after the parking purchase.
Northern Powerhouse advocates, per Manchester Evening News reports on housing, decry such gaps, with local agents noting Manchester’s 7% yearly rise versus London’s stasis in parking niches.
What Are the Full Listing Details?
Elsom Spettigue Associates lists it as a leasehold lock-up for £295,000. Key perks include the electric shutter and electrics, marketed for multi-use.
Full quote from the listing, per Luxury Property News:
“This well-presented unit benefits from brand-new electrics and a Crocodile remote fob-operated electric shutter, offering both convenience and security. Ideal for parking, storage, or as a potential investment… This is a superb opportunity…”
No chain mentioned, suggesting quick completion for cash buyers.
How Does This Reflect Broader UK Property Trends?
This sale crystallises London’s outlier status. ONS data shows parking spaces averaging £47,000 nationally, but £150,000+ in the capital. Telegraph property columns have tracked similar “garage millionaires” since 2020.
Northern contrasts sharpen: Liverpool averages £180,000 (Rightmove), Leeds £240,000—still below this spot. Financial Times analyses attribute it to supply crunches, ULEZ rules boosting EV charger demand, and foreign investment.
Who Is Selling and Who Might Buy?
Elsom Spettigue Associates, a Mayfair-based firm specialising in luxury leaseholds, handles the sale. Buyers? Likely locals safeguarding assets or investors eyeing yields; Luxury Property News notes rental potentials of £300-500 monthly.
No seller named, preserving privacy standard in high-end deals.
What Happens Next for This Listing?
Listed recently, it could move fast given rarity. Luxury Property News implies viewings underway. Market watchers predict bids pushing it higher, mirroring a £320,000 Pimlico garage sold last month (per Savills data).
In sum, this Notting Hill anomaly—fully detailed across sources—exposes UK’s fractured property landscape, where a parking bay trumps a Mancunian manor.
