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Parking space in St Ives expected to sell for £40,000

Other spaces in the same car park have previously sold for around £60,000. Photo: ITV West Country

A parking space in St Ives is expected to be auctioned off for £40,000 next week.

The space in Tregenna Hill is considered to be in a prime central location, coming with security features and a lease lasting nearly 1,000 years.

Other spaces in the same car park have previously sold for around £60,000.

In 2012, five spaces on Barnoon Terrace were sold for over £160,000.

The reason why it's £30-40,000 is there's other parking spaces within this actual car park, let alone others in St Ives that have sold for considerably more. So this just a range put in place to hopefully create a competitive environment on the day."

– Katie Semmens, Clive Emson Auctioneers
An ex-council house fetched £1.4million last month. Credit: ITV West Country

Another auction in the town that recently drew attention was Sunset View, an ex-council house with a view, which fetched £1.4million last month - nearly £80,000 more than its guide price.

A St Ives town councillor says the town has always had parking issues and thinks ditching the car altogether could be the solution.

St Ives is so accessible on public transport. You can get the train there, you can have the most beautiful view in the world. If you're my age you can get a free bus pass and you can come into St Ives and park up at the top. So people need to think before they use their car, be sensible."

– Colin Nicholls, St Ives Town Councillor
The Tregenna Hill parking space is due to be auctioned on 3 November. Credit: ITV West Country

The Tregenna Hill parking space is due to be auctioned off on the 3rd of November.

Cornwall Council have said they are seeking solutions to parking issues across the county. A review is due out in May 2018.