Finding a parking space in the Golden Triangle can sometimes feel like a lottery. 

Cars clog the narrow streets and locals can often be seen driving around in circles as they try to find a spot.

And the situation has placed parking at a premium in the area, with a much sought after three-space lot now heading to auction with a guide price of £40,000.

The plot has a guide price of £30k-40kThe plot has a guide price of £30,000 to £40,000 (Image: Auction House East Anglia) The 1035 sq ft plot, which is approached from Unthank Road via Rose Valley and Primrose Place, will go under the hammer on September 11 through Auction House East Anglia. 

Bryan Baxter, auctioneer at Auction House East Anglia, said that depending on the size of the vehicle, the space would comfortably fit three cars.

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"The average price for a parking space in the Golden Triangle is £10,000 to £15,000 and we have sold similar plots for that price and more," he said. 

"Homeowners will often buy parking land like this to increase the value of their properties as many of the homes in the area don't have off-street parking."

The lot goes to auction on September 11The lot goes to auction on September 11 (Image: Auction House East Anglia) The council issues resident permits which aim to ensure that parking is available to locals and not commuters and shoppers.

However, the number of permits issued far outweighs the amount of parking spaces that are available.  

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Kim Dewing, an estate agent at Claxton Bird, says the plot of land is highly desirable due to the rarity of homes and businesses in the area having off-road parking spaces. 

"Properties with off-street parking certainly carry a premium and will add considerable value," she said. 

The space can comfortably fit three vehiclesThe space can comfortably fit three vehicles (Image: Auction House East Anglia) "The location of the land being just off Unthank Road will only add to the desirability.

"The last time we sold a garage it went for last and final bids so I would expect this lot to do very well."

Aside from locals who may want to purchase their own parking space, enterprising people may also buy the land to rent out the spaces. 

According to Auction House East Anglia, there is also potential for alternative use of the land, subject to planning permission.