Britain's most expensive car park slot is now on sale in London for almost £500,000.

The Kensington parking slot is being sold by Foxtons for nearly half a million at £480,000, which is estimated to be roughly twice as much as the average price of a house in the UK.

At that price, the owner will secure a private slot in Kingston House North's "exquisite underground parking development".

The exquisite parking slot is being marketed by Foxtons with an advertisement that reads: "Boasting an exceptional location, this exquisite underground parking development boasts a secure, prestigious and exclusive environment, while offering a fantastic spacious triple bay."

Benefits of the "secure" parking complex include 24-hour security, valet service, number plate recognition and an "exceptional" chauffeur lounge.

If the parking slot is sold, it will break the previous record set by a two-car underground parking spot also located in Kensington.

The previous record bearing parking spot was located near the Royal Albert Hall and sold for an estimated £400,000 in February last year, reported The Independent.

The Kensington neighbourhood in London is known to sell homes at record prices.

A four-bedroom terraced home is presently on the market for £5mn with a two-bedroom recently being listed at £2mn.

The average house price is estimated at around £280,000 across England and Wales, according to the property-listing firm, Rightmove.

Rightmove has claimed properties are once again being listed at an all-time high similar to a trend seen last summer.