The buyer owns a property close buy in South Kensington - but it didn't come with a parking space.
A balcony in South Kensington has been sold for £35,000 after a driver said they bought it just to secure a parking permit in the capital.
The balcony on Stanhope Gardens, near to Gloucester Road Tube station in west London went on the market for £50,000 in July.
Agent Glenn Jacobs, from Next Home Ltd, said someone decided to buy the balcony just because it comes with a parking permit.
The buyer owns a property nearby but it didn’t come with a parking space – so they negotiated a price reduction on the balcony and bought it just so they have somewhere to keep their vehicle.
They are buying the balcony for £35,000 and will also need to contribute £1,300 towards the annual service charge.
Mr Jacobs said they received around 400 enquiries for the balcony when it went on the market – but he didn’t think it would end up being bought for this purpose.
He told the Telegraph: ‘It wasn’t something we’d thought of initially… I thought of every other thing. I got told of tents and canopies and all sorts of weird and wonderful ideas, but this one makes perfect sense.’
Listing other reasons people were interested, he shared how one potential buyer from China said they wanted to purchase the balcony to use as an art space.
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This offer did go to solicitors but the balcony was back on the market after two weeks.
After that, Next Home Ltd received 191 new inquiries from people interested in parting with their cash for the balcony.
This included a dance group who wanted to use the balcony as a space to practice in, which Mr Jacobs didn’t think the neighbours would be a fan of.
In total since the advert was first listed, Next Home Ltd has had to sort through 400 inquiries.
Mr Jacobs said some were clearly a joke while they received others from people who seemed to think the whole flat was for sale.
The agent also said people got in touch wondering if they could make some quick cash by selling off parts of their own property.
He said it ‘sparked lots of people’s imagination’ and they were asking if the could do things like sell off part of their garden in exchange for money.
But Mr Jacobs said it’s ‘not as simple as that’.
The agent continued: ‘I think it’s a sign of the times: the poor are getting poorer, and the rich are getting richer.
‘I think people that are struggling are more likely to view it negatively – people in Chelsea putting up balconies for 50 grand.’
Mr Jacobs said he feels like this is why the balcony ad caught people’s attention – it has struck a chord because people already felt like they couldn’t afford rents and now they can’t afford parking spaces either.
Prices for parking spaces in London have risen astronomically recently, with £80,000 for a space being considered the lower end of the market.
And Patrick Alvarado, director of Nicholas van Patrick, told the Evening Standard that parking spaces at the top end of prices can go for as much as £250,000.
The balcony’s buyer is planning to put a plastic or glass frame around their new purchase to make it waterproof and transform it into more of a room.
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