At least there's somewhere to park! London double garage sells for over £250,000 Lock up sold at auction for three times the list price this week Joins a long list of garages that have sold for big money in London New owner might see planning potential in expensive double garage, but no permission approved yet For a lot of people their car is their pride and joy - but how many of us would splash out £250,000 on keeping it off the roadside? A double garage has sold in London for over a quarter of a million pounds - nearly £100,000 more than the national average cost of a house. According to the latest Land Registry figures the average UK home costs £169,624. But while many struggle to get their foot on the property ladder, one buyer has snapped up a double garage for a cool £251,000. A double garage unit in North London was sold for £251,000 at an auction this week, putting it at a level well over the price of an average British home. For the money the new owner can enjoy mains electricity in each of the two garages, and there is an option of connecting to water on-site. The storage facilities went for more than three times the list price when they went under the hammer at a property auction in London yesterday afternoon. Described as a 'postage stamp of land', the site is situated on a leafy street in Highgate, north London. But the new owner may have got a steal, in an area where a five bedroom house can set you back £6million, the land has been sold with development potential. However, no planning rights have been obtained yet. The garage is in leafy Highgate, North London where a five bedroom property could set you back £6million Estate agents described the site as being: 'Conveniently situated with a frontage to Clifton Road, in a popular residential area close to both the local shopping and travelling facilities of Crouch End and Highgate.' Auctioneer James McHugh, of McHugh & Co - the estate agents who hosted the auction, said: 'This was an exceptional price and sales like this are quite rare. There were two garages in Crouch Hall Road on a small plot of land 25ft two inches by 34ft in depth that were listed at £80,000. There was a lot of interest in the room and finally they were knocked down for £251,000. 'Someone thinks there is development potential although we didn't sell it with any planning consent or permission. 'It's a modest site, but if you get planning permission you may get a house on there.' The previous owners, who had a portfolio of properties dotted around London, had owned the plot for 19 years. Mr McHugh added: 'Such sales are not uncommon in London, but ones like the plot in Crouch Hall Road are rare. They often come with development potential and developers will see that potential and pay large sums to secure ownership. The Highgate double garage is not the only London lock-ups with a hefty asking price. Many tiny spaces in the capital have sold for a small fortune with buyers keen to take advantage of their investment potential. In 2010 a dilapidated row of storage units in Primrose Hill went on the market with a whopping £1.25million asking price. But the new owner could rest assured that they would own property in the same trendy area as Kate Moss. The lock-ups which in Primrose Hill which, because of their trendy postcode, had a £1.25million asking price In 2012 a 6-metre long garage went on the market for £525,000, but that was because of its pricey postcode in Knightsbridge - home to Harrods and some of the world's richest people. A garage in Knightsbridge which went on the market for £525,000 in 2012 And in August this year a 224sqft Highgate lock-up, which had been converted into a studio flat went on the market for £250,000. Would you live here? A Highgate lock-up which the owner had converted into a studio apartment - on the market for £250,000 in August this year