GLASGOW AIRPORT PARKING INVESTMENT
- Glasgow is the largest economic powerhouse in Scotland, the world’s 14th richest country.
- Passenger numbers at Airport will grow threefold in next decade demanding 28,000 new car park spaces.
- 10 year Airport Master Plan investment costing £300m – new runway, terminal & rail-link.
- Glasgow Airport delivering record breaking growth in 2016 and 2017.
The current site is a fully operational car park that serves Glasgow Airport. However, there is great potential to develop this site into a state-of-the art car park that maximise efficiency and customer convenience.
Aran Development have been tasked with this redevelopment which will take circa three months for completion. The site plan opposite demonstrates a size capacity of 1,000 spaces. Aran Development will build a modern fully automated site with 950 spaces and hence maximise the efficiency for customer usage and enable optimum income (yield) delivery.
HIGHLY POPULAR INVESTMENT PRODUCT
The airport car park space market is rapidly expanding with passenger numbers set to increase by over 220% in most major airports in the next 20 years. The industry is already a £80 billion investment market with over £50 million now being received in yield income by investors.
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.
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
Complete the enquiry form below or call us on +44 (0) 1566 777232