Nine parking spaces in Brighton city centre have been sold for £145,000 at auction.
The spaces at Grand Parade Mews in William Street were sold on the instructions of Brighton and Hove City Council.
Six of them are currently let at £8,640 per annum with the estimated rental when fully let £12,000 per annum.
The spaces are located in a block accessed from William Street which is just off Edward Street, in a private cul-de-sac to the rear of Grand Parade.
They were among 145 lots in the latest auction held by Clive Emson Land and Property Auctioneers, which ended on Thursday, 20 March.
Senior Auction Appraiser and Auctioneer Richard Payne said: “Parking is often at a premium in the city centre so it was no surprise that this great opportunity to acquire nine car parking spaces close to Brighton Pavilion and the seafront attracted great interest.
“There is a thriving rental market for spaces such as these with city centre workers seeking convenient places to leave vehicles – and there is ongoing potential for rental growth.”
When can we expect the planning permission to be granted?
Will the new owners have consent to access Grand Parade Mews ? It is a privately owned road. Also access at times can be difficult due to large vehicles on site on occasions
Of course the Council have been making a lot of money for a very long time so will save money on Parking Enforcement but lose long term income.
Regarding any planning the area is in a Conservation Area and no other buildings can be erected on the Estate plus needing consent from the owners of the road. So no chance.
The Council still owns 3 parking spaces behind properties owned by the Council plus a storage facility in the road
That’s the back entrance to the Brighton Sauna and the P*ssy Cat Club
6 x 8640 = 51, 840. So they’re being sold for an amount that would be recouped in 3 years, assuming no others were rented. Genius minds thriving at the council as usual.