Billionaire buys $26 million private garage in London

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How do you find parking for 80 supercars and classics worth tens of millions of dollars in the middle of London?

Buy a $26 million garage.

That’s what an unidentified Middle East billionaire did a few weeks ago when he purchased an underground parking facility just off Hyde Park, according to The Times. The 130-space garage is located in the ritzy Knightsbridge neighborhood and was already outfitted with high-tech security systems and a large valet staff to serve its high-end clientele.

Parking rates previously ran at about $40,000 annually, while ownership of some individual spots changed hands for over $500,000 each. Its former operator tells The Times that the buyer got a deal, as his collection is worth more than what he paid for the garage, which works out to about $200,000 a space.


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