Car Parks For Sale: Eye Popping Incomes to Jaw Dropping Locations

5 Jul

Car parks can be potential goldmines for property investors and this month there are a good variety of car parks going to auction from a mammothly lucrative £500k per year income to what I consider one of the sexiest car park locations a-going…

So without further ado:

Waterdale Shopping Centre, Doncaster, South Yorkshire, DN1 3JN

Guide price: £2m+

car parks for sale

Strictly speaking this is MUCH more than a car park, but if I was the buyer of this shopping centre I would sure as hell carve off the car parks and just sell the rest!

For the £2m+ guide price what you’re actually getting is:  an uncovered shopping centre of 46 ground floor retail units, 37 residential apartments, a former cinema, office accommodation, a sports and social club, a 263 space basement car park and two surface level parking areas providing approximately 89 car parking spaces.

Rent wise – the total current gross rental income for Waterdale Shopping Centre is £1,032,537 per annum.  That’s split into £431,961 per annum from the commercial tenancies, £105,114 per annum for the occupied 27 residential apartments, and £473,075 per annum for car parking plus an additional £22,387 per annum is generated from service yard parking permits.  Which means this site is generating almost half a million from car parking alone!

Now if you’re thinking this sounds too good to be true – you’re bang on – there is a current estimated annual income shortfall of  £381,120.  Currently 8,292.64 sq m (89,262 sq ft) of commercial space is unoccupied with a further 10 unoccupied residential apartments.  And the fact is – empty properties STILL cost money: quite frankly they screw your cash flow and any potential profits.

However, with pro-active asset management and a bit of splitting and selling there could be money to be made here – not to mention the current low guide of this shopping centre.  £2m may sound a lot – but just one year ago this site was valued at almost £9m – which is a significant drop from it’s 2007 valuation of £27.05m!  And let us not forget that MAMMOTH almost HALF A MILLION POUNDS INCOME FROM CAR PARKING!!!

Further info: Acuitus

Multi Storey Car Park, Consort Way, Horley, Surrey, RH6 7AF

Guide price: £200k+

car park for sale

If you’ve always fancied owning a multi-storey car park but haven’t quite had the budget to buy it, this auction lot could offer you the chance to pick up a place for a fraction of the total price.  While the car park comprises 275 marked car park spaces, you are actually only buying vacant possession of 65 car park spaces as the rest have already been sold on long leases for a peppercorn rent (mainly to Lidl and local offices).

The multi storey car park is situated to the rear of the Lidl supermarket in the heart of the town centre with access to the car park from Albert Road.  This property is being sold as a “Virtual Freehold” which will see you buy the property on a 999 year lease at a fixed rent of a peppercorn.

Interestingly, in the same auction you can also buy further freehold investments on this site – including the Lidl Supermarket along with additional car parking!

Further info: Allsop

Car Parking Space, The Mayfair Car Park, Park Lane, W1K 1AB

Guide price: £75k+

car park for sale

If you want Swanksville (and who doesn’t!) then how about a secure parking space at The Mayfair Car Park on Park Lane.

I mean, can a car parking space get any sexier than this?

I mean, seriously – just google map the location!

You’ve got everything, literally everything including being opposite Hyde Park on your doorstep car parking space.  I know the price may sound a bit steep – but you’ve got 109 years left on the lease at a peppercorn ground rent – and you know what – that Lamborghini Aventador will look so sexy in this car park!

Further info: Allsop

Three Leasehold Parking Spaces, 64 Westbourne Terrace, Paddington, W2 3UJ
(To be offered Collectively as One Lot)

Guide price: £90-100k

car park for sale

Trying to find a car parking space in central London is a nightmare – but if you buy up this lot – fear no more as here you are actually buying THREE adjoining car parking spaces!

Given the amount of money it costs to park in Central London these could be a potential money spinner when rented out – as they are just 400 metres from Paddington train station!  The property is held on a lease with approximately 94 years unexpired at a ground rent of £150 per annum.

Further info: Allsop

Car Parking Spaces, Ferry Quays Underground Car Park, Goat Wharf, Middlesex, TW8 0BP

(To be offered Collectively as One Lot)

Guide price: £75-85k

car park for sale

If you’re looking for more bang for your buck – you could always try your hand with these EIGHT car parking spaces for sale in Brentford. The spaces are held on a single lease with approximately 115 years unexpired at a peppercorn ground rent.

The parking spaces are located within Ferry Quays Underground Car Park; a modern riverside residential development within walking distance of the High Street, Brentford Overground Station and the recreational facilities of The Thames, Syon Park and The Royal Botanic Gardens, Kew.

Further info: Allsop

I hope you like my car parks for sale – which one is your favourite?

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