Parking space in Bury St Edmunds on sale for £10,000

A parking space in the centre of Bury St Edmunds is for sale for £10,000

A parking space near the centre of Bury St Edmunds is for sale for £10,000 - Credit: MARSHALL BUCK & CASSON

A parking space close to Bury St Edmunds town centre is on the market for £10,000.

The block-paved spot in Sextons Meadows, on the edge of the town centre, is large enough to park a single vehicle.

James Hines, director of Shires Residential, which is marketing the space as Marshall Buck & Casson, said parking spaces did not usually come up for sale in the Suffolk town. 

He said: "We've sold the odd one around the town, but not a huge amount.

"I think when this one was bought, ten or so years ago, it was about £5,000 — so it has gone up in value a little bit.

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"You can pay quite a lot more than this. They do become available periodically. 

"Several years ago, several car parking spaces were selling at £20,000 a space but I haven't seen many lately."

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Mr Hines said the buyer would most likely be somebody living nearby or a business owner.

The parking space in Sexton Meadows, Bury St Edmunds 

The parking space in Sexton Meadows, Bury St Edmunds - Credit: MARSHALL BUCK & CASSON

"It tends to be somebody who has a need in that locality," he said.

"Whether they have got a specialist vehicle or they want something closer to their own house, or they have two cars and they need an extra space. 

"Occasionally, somebody might buy one as an investment and then rent it out."

Despite this, Mr Hines said there was not usually much interest in buying parking spaces.

Mark Cordell, chief executive of Our Bury St Edmunds BID, said that parking was an issue for town centre residents.

Mark Cordell, CEO at ourburystedmunds BID.

Mark Cordell says finding parking spaces in Bury St Edmunds can be tricky - Credit: Sarah Lucy Brownn

"Town centre parking for residents is at a premium," he said.

"You have to buy a permit to park in the town centre and there are far more permits than there are parking spaces."

However, parking in the Sextons Meadows spot is a bargain compared to some others in the country.

In May this year, a garage in Oxford Street, London, hit the headlines after it went on sale for £750,000.

The 28.15sq m garage accommodates two cars, has a steel shutter to protect the vehicles from thieves and is based within a residential building boasting a 24-hour porter service. 

In Suffolk, £750,000 would currently be enough to purchase a six-bedroom Grade II listed farmhouse in Long Melford. 

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