Anonymous Middle Eastern Royal Spent $26 Million for a Private Garage in London
Because he needed space to park his collection of 80 supercars, this Middle Eastern Royal spent $26 million for a private garage in London.
This anonymous royal just bought himself a private garage in London’s most exclusive neighborhood, when we all know how difficult is to find a parking space in central London.
His solution might be better than stressing yourself every day to find a decent parking spot to park your car, he just bought the whole garage in the Knightsbridge neighborhood.
Let me tell you that the Knightsbridge neighborhood is located not far away from luxury department store Harrods, which is the perfect place to host all of his 80 luxury cars.
According to the Time, for that kind of money this Middle Eastern Royal will be getting extra wide parking bays, cushioned pillars to avoid expensive paint-job damage, license–plate recognition software upon entry and CCTV everywhere.
For you to make an idea, back in the day when the garage was run by Waterbridge Estates, members paid up to £35,000 ($43,600) a year to park their luxurious cars there and spaces were sold for as much as £450,000 ($560,500).
That’s more than double that buyers on average spend on their first home in the UK last year, according to a report published by Halifax.
The high price tag might be because all the features this garage has, or because it is located in Knightsbridge, in the Royal Borough of Kensington and Chelsea and especially the area around Harrods store, has been known as a favorite spot for the celebrities to park their supercars.
Knightsbridge in central London is home to some of the capital’s most expensive properties, including the One Hyde Park development, where one bedroom flats can cost as much as £2.6 million.
“A car park in central London is being sold for more than entire streets and villages outside the capital’s centre and yet even upper-middle class generations are finding it impossible to rent in London, let alone purchase in their lifetime,” a spokesman for Waterbridge Estates, which carried out the save, said.
“The value of his collection is significantly higher than the price he has paid for the parking.”
Would you spend $26 million on a private garage?