MANCHESTER, ENGLAND – Private investors globally are recognising the huge investment potential of airports – but one UK business is attracting investment with its high return and fully managed investment opportunity in off-airport car parking.
Park First owns and manages thriving off-airport car parks worth in excess of £190 million at major UK airports including London Luton, London Gatwick and Glasgow.
After just six years in business, Park First has already become the UK’s biggest provider of off-airport car parking with almost 12,000 car parking spaces owned outright and more than 5,000 managed for its investors. It is the company behind trusted industry names such as Direct Parking, Help Me Park, Cophall Parking, Park Safe, Park Fast, Swift Park and Park n Fly, all operating successfully, some for up to 32 years, at London Gatwick and Glasgow international airports.
All Park First owned car parks feature the most advanced security, their park & ride services provide luxury terminal transit, and Help Me Park, which has been established for 10 years and is the very best meet and greet service, allowing travellers to drop and collect their cars directly at the terminal.
Park First airport car parking is set to become the highest yielding and is showing the fastest growth of any buy-to-let property opening up this market sector to new investors. Park First’s unique investment opportunity allows investors to purchase individual car parking spaces on its award-winning sites, benefiting both from on-going rental income and capital growth. Each space is offered at 25% below market value, confirmed by independent valuation by the Royal Institute of Chartered Surveyors, to give an immediate rise of property value from day one. Investors have the option to sell on their parking space at any time.
An assured 8% return is paid to investors in years one and two, rising to a predicted 10% in years three and four, and 12% in years five and six. Year three investors have already been paid their returns at 10% with year four also assured at 10%. The continued growth in air travel and expansion of major UK airports creates ever more pressure on airport parking and potentially offers higher returns arising from the fundamental economics of limited supply and excess demand.
Headquartered in Altrincham, Direct Airport Parking Investment is an established and fully accredited ‘Master Agent’ of Park First. Peter Tomlinson, Senior Investment Consultant with Direct Airport Parking Investment, said:
“Investors in international airports have already recognised that one of their biggest sources of income – aside from landing fees, airline contracts and terminal shopping – is car parking.
“Across the UK, major airports are experiencing unprecedented growth in passenger numbers and with that growth comes an increased demand for high quality, trusted and secure car parking close by. It’s a strong growth area, set to become the highest yielding of any buy-to-let property, and offers investors a unique opportunity to own off-airport car parking spaces with an outlay as low as £20,000.”
Investors in Park First’s off-airport car parking own their car parking space, with a title deed from the Land Registry. As a tangible asset, parking spaces are a stable investment even in times of general market instability as they tend to change in value independent of financial markets. It’s a unique opportunity to invest in UK commercial buy-to-let property without the associated risks of owning bricks and mortar.
John Slater, Park First’s Managing Director, said: “We’ve already invested more than £5 million in improving and upgrading the sites we have acquired. We are the industry leaders in airport car parking and strive to make the whole process of booking and using an off-airport car parking space as smooth and stress-free as possible.
“Our sites at Glasgow and London Gatwick were the busiest they have ever been in 2015, and this year is shaping up to be even better. We also have plans to extend our operations to other leading UK airports which offer great scope for Park First.”
With ambitious plans to extend its portfolio of strategic sites, Park First is now targeting London Luton, London Heathrow, Manchester and Birmingham airports, all enjoying significant growth and with strong demand for high quality and secure off-airport car parking.