Parking space in London on sale - for cost of three-bed semi in some parts of the country

A parking space in London has gone on sale for the same price as a three-bedroom semi-detached property in other parts of the country.

The spot, located in Hyde Park Gardens, comes with an unexpired lease of 85 years and is located minutes away from central London.

It is within walking distance from Hyde Park, Oxford Street and the West End.

With its lease ending in July 2104, it could see the driver saving time on finding rare parking in the capital during rush hour.

However, the spot is on sale at an astonishing £210,000, nearly as much as the average price for a home in the UK, according to the Office for National Statistics (ONS).

The parking space has gone on sale for £210,000 (Getty Images/Maskot)

With the same amount of money, you could buy a decent house in other parts of England as the average price is just £256,000, according to the ONS.

The average house price in England increased by 2.8% over the year to August 2020, up from 2.4% in the year to July 2020.

Hyde Park Gardens is in central London (Google Streetview)

London house prices remain the most expensive at an average of £489,000.

But with £210,000 you could get a good chunk of a shared ownership property in Ealing, or there are many parts of South London where you could pick up a decent property for not much more, My London reports.

The North East continued to have the lowest average house price, at £132,000.

It's not the first time a parking spot has been put on the market with a hefty price tag.

In 2019, a parking spot in Knightsbridge was put on the market for £250,000.