Accessories

Billionaire buys $26 million private garage in London

garage google

 (Google Earth)

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.

----------

McLaren's new sports car is pretty super: