Look upon that electric vehicle space as a bargain!

• DARIO Piccirillo (Permit prices for electric vehicles are unfair, May 3) is unhappy at the cost of a parking space for his electric vehicle in Islington which is now a “staggering” £175 per year.

I would ask Mr Piccirillo to see this issue in a more positive light.

Land is scarce. According to HM Land Registry, the cost of land in Islington is around £10,000 per square metre.

Assuming a rental yield of 5 per cent, he could make the argument that a stationary vehicle occupying, say, 8m2 (not allowing space to open doors or gaps to the next vehicle) ought to pay £4,000 a year for the right to occupy the land.

It sounds like Mr Piccirillo has secured himself a community-subsidised bargain.

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