Earn extra retirement income: Invest in airport parking expected to generate £12.5 billion
01-10-2015
PENSIONERS are being encouraged to invest in airport parking in a bid to secure thousands of pounds worth of annual rental income.
By Dominik Lemanski
Man at airport car park standing by car on phone
GETTY
Experts say there is an chance to benefit from shortage of car parking space at airports
The UK parking industry is estimated to generate more than £12.5billion annually in gross parking revenues.
And Brits with spare cash to invest are being offered the chance to snap up a slice of the action - said to be worth 10% a year in annual income after just two years.
Plots of land (car park space) complete with title deeds from the Land Registry and a 175 year lease are being offered for sale at a price of £20,000 yielding an annual net return of 8% (for the first two years).
The business opportunity - offered via London-based One Touch Property Investments - aims to take advantage of a shortage of airport parking at the expanding Glasgow Airport in Scotland.
Adverts for the firm in Saga Magazine state: "Glasgow Airport, for example, recorded its 20th consecutive month of traffic growth in September 2014.
"That month, 783,000 passengers travelled through its doors. As there are only 4,500 long stay car parking spaces at Glasgow Airport there is a massive shortage in supply verses demand.
"There is an opportunity to benefit from this shortage by purchasing a car parking space, and earning rental income generated throughout the year. It is a very simple concept, pioneered in America, which has since developed widespread appeal."
"There is an opportunity to benefit from this shortage by purchasing a car parking space, and earning rental income generated throughout the year "
One Touch Property Investments
The firm's website boasts a similar tale about the potential of investing at Glasgow Airport.
It adds: "Thomas Cook Airlines will launch a weekly flight from Glasgow to Las Vegas in summer 2015. Thereby increasing the demand for Long Stay Parking."
Investment Director, Arran Kerkvliet, of One Touch Property said; “There has been significant up take; 500 client reservation were received in December…. the Glasgow Car Park Investment is virtually sold out”.
The deals, which are "managed by an existing company" with "over 20 years experience" are billed as a"simple" way of earning extra retirement income.
The investment opportunity comes against a backdrop of growing disquiet about the activities of some so-called 'parking cowboys' - thought to be unrelated to the airport parking industry.
Earlier this year Communities Secretary Eric Pickles announced a Government probe into allegations rogue firms are threatening drivers with huge fines.
The minister said the ‘bully boy’ tactics -targeting elderly and disabled people visiting hospitals and High Street shops - would not be tolerated and rogue firms could be prosecuted.
The probe was announced as a leading adviser to David Cameron said abuse by private parking squads was worse than the PPI scandal.
* A Free Guide to investing in car parks can be found at www.investing-for-income.org.