Park and ride out the downturn

The property downturn appears not to have hit road users in Mayfair: a parking space has just been put on the market for £110,000. The space is in a secure underground car park on Hill Street, below an apartment block, and is for sale on a new lease of 150 years through Wetherell estate agents. The niche boutique estate agency has put the steep price tag on the prime parking spot in Mayfair, where, despite the downturn, one bedroom properties remain on average above £1m.