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The latest [pounds sterling]500,000 property: a parking lot.

Byline: MIRA BAR-HILLEL

LOOK HARD. This is London's latest [pounds sterling]500,000 property - a parking lot It may appear to be a rather unremarkable side street, jammed between blocks of flats. But with pressure on parking in London soaring to unprecedented levels it could prove to be a goldmine for whoever buys it.

The alley has spaces for 14 parked cars and with annual parking tickets in the nearest NCP car park going for almost [pounds sterling]4,000 a year, it could earn in the region of [pounds sterling]50,000 annually if the individual spaces were let out to motorists.

The spaces, located just outside the current congestion-charging zone at the junction ...

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