The eye-watering figure offered for this tiny Sydney garage is proof that the world has gone completely mad.
And, for the most part, it’s easy to see why.
Sydney has stunning beaches, a world-class harbour and cosy suburbs close to a thriving CBD.
But a reported offer on a North Bondi garage has arguably taking things a step too far.
Realestate.com.au is today reporting that a homeowner at 17/101 Ramsgate Ave was approached by a would-be buyer with an eye-watering offer for just the garage.
The buyer was willing to part with $1 million for the small concrete lockup with roller door.
It’s not much to look at but it is located a short walk to one of the world’s best beaches where parking can be a nightmare.
Sales agent Ric Serrao of Raine and Horne Double Bay/Bondi Beach told realestate.com.au that the offer was knocked back because the owner wanted to sell the property with parking included.
“The owner wanted to keep the garage and the apartment together because it’s obviously an important feature,” Mr Serrao said.
A report published last year by the Sydney Morning Herald showed that carparking around Sydney’s beaches is more expensive than almost anywhere else in the country.
The report found that parking around the northern beaches, including at Manly, was $10 an hour. The same fee was charged by Mosman Council for parking at the picturesque Balmoral Beach.
At Bondi Beach, it was $9.50 an out on one side of Campbell Parade.
In North Sydney it could cost $8.20 an hour at peak times and drivers were slugged $7.20 in the CBD for an hour of parking.
A quick comparison shows parking in Victoria is cheaper. Mornington Peninsula Shire Council is charging parkers $6.20 an hour.
At bayside beaches including St Kilda and Sandringham it costs $6.37 an hour.
The $1 million offer for the parking space in Bondi is significantly higher than any other reported car space sales in Sydney.
Last year it was reported that a 17 sqm property on the Pacific Hwy at Lane Cove, on Sydney’s north shore, was for sale for $88,000.
As 7News reported, the listing suggested it could be used for much more than parking.
“Is it a car space? Is it a storage space? An office? A day resting area?” the listing read.
“It’s a lockup garage with a window for natural lighting. The rest is up to your imagination, subject to approvals required, of course.
“The property has power available. Just simply connect, and you’re set.”