Hi
Has anyone invested in carparking space??
I am trying to gather infomation.
Can you buy a parking space at a big department store eg Westfeild??
Any help would be nice.
Bruce
Some ten years ago I was involved in talks with a major carpark operator who was thinking of that. After due diligence, I pulled out. I notice to this day, that concept has not taken off.
I don’t think there is a major surburban shopping centre out there which is game enough to charge customers to park.
I owe 3 carparks in fitzroy st, St kilda, in my superfund.
They are leased to major car park operators, I get a return into my superfund every month, they pay all outgoings, no rental vacancies, no tenant hassles, very little or no worries.
Car parks are often advertised, if they are on a lease back it seems to be not a problem.Carparks in the CBD are 18 bucks an hour!!! I reckon it would be amazing to one day own a carparking building.
Wanna hear my prediction? I reckon it’s going to go the way that Japan is (eventually) which is automated car-stacking – it’s all about (of course) getting many more cars in to a space than in the traditional way. i reckon it’s a license to print money for the first person to start an automated car-stacking parking lot in the CBD of Sydney. I mean – the novelty value would mean everyone would try it, at least once! Even for 20 bucks an hour!cheers-
MiniHi,
I’ve seen them advertised quite a few times on http://www.realestate.com Have a look if you are interested. Do your numbers.
Cheers
Sooshie [
]There are no problems, only solutions
I PAID $40 for one and a half hour parking in the city one day, I almost fainted in disbelief! A money spinner? Lets all get together and buy a car parking building.
Yeah – and then let’s split it up into individual strata-titled car parks, sell enough of them off for 45 k each until we’ve recouped what we paid for the building then split the remaining parks up between us! Free parking, just like in Monopoly!
cheers-
Mini
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