As reported in the Property Observer, a spirited auction for an undercover Potts Point car space fetched $264,000. This price reflected around $10,000 per square metre.
In an area that has been described as the toughest in Australia to find a car space – with almost 25,000 residents living in a 1.89 square kilometre, restaurant mecca footprint, parking comes at a premium.
While nothing close to the prices being paid in SoHo, New York City, the result is a new record for Sydney, eclipsing the $240,000 paid for a 16 square metre single car parking space at North Bondi in 2010.