A SINGLE car parking space in St Ives could have become one of the most expensive outside London after it sold for almost £60,000.

The tiny plot of land in the town's much-sought-after Downlong area was snapped up by a local resident for almost £20,000 over the asking price following a sealed bid auction.

The cost of the space equates to more than three times the average annual salary in St Ives and is around two thirds of the cost of a secure under-cover parking space in London's most expensive Park Lane area, currently advertised at up to £90,000.

The new owner, who is thought to live nearby in Porthmeor Road, clinched the deal after beating offers from around a dozen hopefuls.

Jonathan Payne, branch manager at Bradley's Estate Agents who conducted the sale, said he cannot recall a parking space commanding a higher price.

"I don't know if it is a record but I cannot remember one going for more," he said.

"Spaces are always in short supply in St Ives and even going back years they made a premium price," he said.

"Downlong has been a favoured location for many years – it is a beautiful part of the world and people aspire to live there."

Mr Payne said the high price reflected the chronic lack of car parking in the old part of the town. The plot of land beside the entrance to the council-owned Island car park was sold two weeks ago.

It was advertised for £40,000 but eventually changed hands for a figure "in the high fifty-thousands".

St Ives town councillor and DIY shop owner Colin Nicholls said it was a "massive price" for such a small piece of land.

"I would rather do without a car than pay that kind of money," he said.

"But we are an extremely popular tourist resort which attracts people with money - it is overpriced but that's how market forces operate.

"I think you will find it in resorts all around the world - it is too much but good luck to whoever bought it."

The sale comes just weeks after it was revealed that the old part of St Ives contained the highest number of second homes in Cornwall.

Figures from Cornwall Council showed that 35 per cent of the traditional fishermen's cottages in Downlong are now unoccupied and have contributed to a drop in population in the town of 13 per cent since 2001.