Savvy Ipswich residents near Chantry Park are cashing in on their valuable driveways - with some being rented for the duration of Ed Sheeran’s homecoming concerts for £150 a night.

East Anglian Daily Times: The area around Chantry Park will not be available to park in - with residents close to the boundary renting out their driveways Picture: GOOGLE MAPS/IPSWICH BOROUGH COUNCILThe area around Chantry Park will not be available to park in - with residents close to the boundary renting out their driveways Picture: GOOGLE MAPS/IPSWICH BOROUGH COUNCIL (Image: Archant)

Throughout the Chantry estate in the south of the town, residents have driveways that can be rented out, typically used by commuters with a monthly contract or for special occasions like Ipswich Town matchdays.

The concept of driveway rental has been used in the town for years - but some people have discovered that a substantial increase can be made on the evenings of the Ed Sheeran homecoming shows.

The rate for a day's parking on any other day in August varies from about £3 to £10 a day, with all the parking spaces less than two miles' walk from the site of the gigs at Chantry Park.

But on the four days of the concerts, the prices shoot up - some as high as £150.

East Anglian Daily Times: The most expensive parking space advertised for the Ed Sheeran concerts in Chantry Park is a driveway in Kestrel Road, at a whopping �150 a day Picture: GOOGLE MAPSThe most expensive parking space advertised for the Ed Sheeran concerts in Chantry Park is a driveway in Kestrel Road, at a whopping �150 a day Picture: GOOGLE MAPS (Image: GOOGLE MAPS)

The most expensive spot is in Kestrel Road, less than a mile away from the park, charging six times the usual daily rate of £25 for the space.

One drive, in Aster Road, increases more than 1600%, from £3 a day to £50.

More than 160,000 fans are expected to flock to the concerts over the four nights - and Ipswich Borough Council has warned this is bound to cause some disruption.

MORE: All you need to know to get to and from Ed Sheeran's Ipswich gigs

East Anglian Daily Times: The second most expensive driveway in the area is in Lupin Road, costing £62.50 for the Ed sheeran gigs. Other driveways in the area are still fetching £40 and £50 Picture: GOOGLE MAPSThe second most expensive driveway in the area is in Lupin Road, costing £62.50 for the Ed sheeran gigs. Other driveways in the area are still fetching £40 and £50 Picture: GOOGLE MAPS (Image: GOOGLE MAPS)

There will be no parking in a large area of Ipswich surrounding the park during the four days of the concerts, with the advertised driveways just outside the exclusion zone.

Hadleigh Road will be closed from noon on Friday, August 23, until 1am on Tuesday, August 27 between Dickens Road and the A1071 at Sproughton, with residents to be issued special permits letting them park close to their homes throughout the road closures.

London Road will remain open, with one carriageway being used for a contraflow.

The road will be closed after each concert between 10pm and 1am, between Ranelagh Road and the Holiday Inn at Copdock.

East Anglian Daily Times: Will it rain at the Ed Sheeran concerts in Chantry Park? Picture: GREG WILLIAMSWill it rain at the Ed Sheeran concerts in Chantry Park? Picture: GREG WILLIAMS (Image: Archant)

Ipswich Buses will be providing a shuttle bus service from the town's two bus stations and the railway station to Chantry Park every 15 minutes at a cost of £3 return per person.

Greater Anglia have announced more regular trains and more carriages will also be running over the four days.

The nearby Suffolk One College has sold out of tickets allowing Sheeran fans and families to park close to the concerts on all four nights over the bank holiday weekend.