Sydney car space up for sale for $525,000: 'Extremely rare opportunity'

A parking space in the heart of Sydney’s CBD is up for sale for a whopping $525,000.

The “extremely valuable” private spot is located in the Mantra Hotel, which also contains serviced apartments, on Bond Street — close to Australia Square and Wynyard train station — and can fit two vehicles, a listing on Findacarpark.com.au boasts.

“VERY rarely do owners sell a car spot by itself in this building and very rarely are car spots by themselves (ie not attached to an apartment) available to be purchased on a separate title! Do NOT miss out on this extremely rare opportunity.”

Potential buyers will have 24/7 access to the car space. Single parking spaces in the same building are available from “time to time”.

“Based on past sales they should be worth in the vicinity of $200,000+.” Yahoo News Australia has contacted the seller for more information.

NZ car space advertised for $200,000

Earlier this week, a car space in Auckland was advertised for NZ$210,000 (A$192,000).

Deemed the “hottest investment in town”, the covered parking spot on Commerce Street in the city’s centre is one square metre and can be accessed 24 hours a day, seven days a week, according to the listing on Trade Me.

Potential buyers have been urged not to miss the “rare opportunity” as the advertisement warns car spaces in town will become an even hotter commodity.

“Car parking buildings like Downtown are being sold reducing the number of spaces available in town. Apartments and offices are being built without enough car parking creating the perfect demand/supply storm,” the listing reads.

The car space can be leased out by the new owner or kept for their own personal use. It can be accessed by a swipe card and is overseen by CCTV security. Despite the hefty price tag, the maybe not so lucky buyer will also have to fork out NZ$896 ($815) for the annual rates and another NZ$2911 ($2648) to body corp.

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For roughly the same amount, someone could buy a small apartment in Auckland, or land in the picturesque Hawke’s Bay, Stuff.co.nz reports.

Last year, the “world’s most expensive parking space” sold for $1.7 million. Located in Hong Kong, the spot was sold for the eye-watering amount by Wharf Holdings and Nan Fung Group, The Australian Financial Review reports.

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