Why Should You Invest In An Auckland CBD Car Park?
First of all we need to establish the fact that we simply cannot create anymore land in the CBD, and that there are more and more people flocking in from all over New Zealand and the world over to live and work in Auckland’s bustling Central Business District. The question to ask is why?
Quite simply put there are more high quality job opportunities, easier access to transport, entertainment, less time spent sitting in traffic, all the amenities such as supermarkets, hospitals and high end shopping opportunities are typically within a 5 kilometre radius of Lower Queen Street.
So why invest in a CBD car park now and not in 5 years or 24 months? Historically the value of a car park located within the central business precinct has increased consistently over the last 20 years as land values have increased. Only 2 years ago some were selling for $35,000, now? Good luck finding one under $60,000..
However far beyond this is the fact that demand by far out weighs supply and the cost of parking in the inner city has sky rocketed! There are simply not enough car parks available in the CBD for every single working professional that wishes to drive in to covered parking, park their car, then take a leisurely 2 minute stroll into the Viaduct Basin for a 9 hour work day.
I recently spoke to an elderly gentleman who we will call Mr X. Mr X has over a 20 year period accumulated upwards of no less than 90 car parks each paying him a monthly residual income and in his words, “I am not short of money Tom, so why would I sell them? They pay me well”.
The long and short of it is invest in a car park now, continue to pick up the odd car park that becomes available as they do over the long term, and just like Mr X when your children need money for a wedding or a deposit on their first home, you will be in a position to simply flick off a car park or two, net $50,000 + per car park sold and still have ten or more available paying you $4,000 per year each! These investments are extremely low maintenance; no painting, no carpets no light bulbs.. this really could be the easiest investment you make this year for you and your family’s future.
I have access to some car parks, not a lot but a few and I’ve just recently listed a CBD car park for a lovely lady nearing retirement who lives in Pt Chevalier, Auckland. She’s had a good run, and is now ready to relinquish the investment to the next savvy owner.
Here’s the link: http://www.citysales.co.nz/listings/9935/lower-hobson-street-carpark
Contact me for more details.
Tom Faye –
Auckland Apartment and Housing Broker.