We all understand the necessity for finding space to park our cars, we also understand the convenience of being able to park our cars at the airport when we go away on holidays or business trips. There is a property developer based in Bolton called Aston Darby which we have been working with for about six months, this company has successfully launched airport car park investments at Manchester and Glasgow. The Manchester site is already sold out and the Glasgow site has a few hundred spaces remaining.
Future releases – Aston Darby
Aston Darby are working on a few new sites to add to their existing portfolio of airport car parks. These sites confirmed are Newcastle Airport and Edinburgh Airport and we are expecting the release of these once we have sold out on the remaining spaces at Glasgow International Airport.
Aston Darby Car Park Investment Review
Investors are able to purchase individual parking spaces in the car park at Harbour Road, Glasgow Airport for £25,000 each. Investors then sub lease the parking spaces back to Aston Darby who in turn go out and manage the car park for the first two years. The investors are Guaranteed 11% return for the first three years (was previously two years) and there are a whole raft of measures in place such as the investor becoming a shareholder within the management company – options to vote on how your car park is managed such as electing the security company, electing the cleaning service provider etc etc.
By becoming a shareholder within the management company, you along with all of the other investors retain control of the asset – if you are not happy with something, it’ll be put to a vote and collectively you would be able to vote on what you want to happen. Retaining control of the management company is somewhat revolutionary as it ultimately gives you the power to decide what happens and you then have the management company act upon your wishes.
When making your purchase at £25,000 you will also have access to a recent Valuation Report which came in above the £30,000 mark – thus you are acquiring the spaces BMV (Below Market Value).
All investment is specifically assigned to a car park space. Each investor will be a director of the management company and will control the team to maximise the returns from their ownership of the car parking space.
All profits will be paid direct and there will be no third party taking a share.
International airports across the globe are facilitating unprecedented growth in their associated car parks owing to high increasing passenger numbers. Frost & Sullivan now estimate that the airport car parking provision is a £80bn industry supported by commercial and private investment.
Full title deed is provided to the investor with a 175 year lease.
Highlights of the Airport Parking Investment
- Existing airport car park acquired.
- Planning permission granted.
- Redevelopment investment of £1m to build a state-of-the-art fully automated car park facility.
- Operating Glasgow Airport passenger shuttle service – car park to terminals.
- 1 mile and 3 minutes drive to Airport.
- Full 24 hour Security System and CCTV.
- RICs valuation.
- Each car park space has HM Land Registry.
What to do next? – how to invest in airport parking
Deciding to find out more about airport parking investments is the first step in your journey to becoming a Landlord of a parking space at an airport. Aston Darby are a great developer with a great management team in place to see the job through – full information about Aston Darby and this car park investment can be found on the Car Park Investment page.