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The proposition is for an investor to purchase an individual long stay airport parking space that is leased back and managed on your behalf by a well established airport parking company with over 20 years experience.
A unique feature of the investment is the on-line booking software and number plate recognition systems which allows for a very hands-off approach to benefit end users and investors alike.
Traditionally, airport car parking provides higher yields than other traditional ‘buy-to-let’ investments. The scale of popularity and the rise of interest in car park investments are exemplified by the global market size, which is estimated by Colliers to be worth $12.6 billion.
Investors worldwide understand the need for airport car parking and with many car parks operating at full capacity on a daily basis this investment is proving very popular as well as lucrative.
N.B This is a complete hands-off investment.
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Airport car parking is at a premium and has been a long-standing, high yielding corporate investment worldwide. Park First is proud that this investment is no longer just for the super rich, with individual parking spaces now available to purchase from just £20,000 each.
Single or multiple parking spaces are available to purchase, which provide a guaranteed return within the first two years of 8% per annum. Each parking space carries a single title deed, which is registered in your own name or that of your company at the Land Registry.
Glasgow Airport is expanding, along with all other main city airports. It offers strong long-term growth due to the massive expansion of global air travel. Glasgow Airport long stay parking is an excellent commercial property investment and a fantastic way to diversify your investment portfolio.
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As a Park First Investors you will receive a 25% rise in capital growth from day one on the asset value. Current RIC’s (Royal Institute of Chartered Surveyors) valuations show a realisable 25% increase in value over and above the investor purchase price paid.
Although our parking spaces can be purchased from only £20,000 per space, many clients will typically purchase multiple parking spaces. Our average client’s investment is now around the £60,000 mark. Multiple parking spaces can be purchased using one land registry title deed, this saves on completion costs on larger property portfolios.
A 6-year leaseback of the car parking space(s) will be in place upon completion. This guarantees rental income for the first two years at 8% net per annum. Projected returns rise to 10% in years 3 & 4 and then to over 12% in years 5 & 6.
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All parking spaces are purchased as a private commercial property investment. Investors are free to sell, let or manage their own spaces at any time using any agent they choose.
You can re-sell your parking space at any time and selling your property couldn’t be simpler. Park First can market your space upon your request. We believe that because your property is so competitively priced when new, they will make a very attractive sale proposition to new investors in the future. We also expect that many end users will wish to purchase their own parking spaces, if they are frequent flyers/tenants, this then becomes more cost effective becoming a personal investment opportunity.
In year 5, investors have the option to enter the Park First buy-back scheme. In this scheme, Park First will buy the parking space back from the investor for the original price paid within the next 5 years. This is a unique offer in the market place and we are happy to be able to offer this exit route to our investors.