Here's why this parking space in UK sold in millions of pounds

A parking space in Bath city of Somerset county in England was bought at an outrageous price of £115,000, according to a foreign news agency.

Named the “good size”, the parking place is located inside an undergoing garage that is secured and has lighting and an electric gate.

The parking spot was advertised by a marketing company named Whiteley Helyar.

The organization, commenting on the purchase, said that such a purchase is rare. They added that another parking place, inside the protected underground garage, was sold eight years ago.

The company, while sending brochures, had told potential buyers that it was a unique opportunity for them to purchase the parking place in the location.

Whiteley Helyar had claimed that the location was in a “highly convenient and sought-after position” with restaurants and shops close to it.

It is to be noted that the commuters had expected a hike in the price of parking places due to environmental conditions. However, the authorities slapped high charges for the entry of those vehicles in the city-centre that have a higher chance of spreading pollution.

In June, a car parking place was purchased for a whopping price of $1.3 million at at a luxury apartment complex in Hong Kong.

Hong Kong is among the most expensive countries to live in the world.