Care Park is a leader in strata-titling of parking bays. This is an innovative answer to the problem of costly parking infrastructure which too often produces little or no income to businesses. Strata title investment car park bays have become a very attractive product to the broader investment market, including self-managed superannuation funds. They offer a number of key advantages to potential investors:
- Low entry prices to access prime CBD property
- The provision to the investor of a “title” to property
- Guaranteed returns at attractive levels
- A net return to investors with the lessee meeting all outgoings
- Prospects of capital growth in addition to a guaranteed passive income stream
- A property class which has become highly sought-after by investors due to the limited future supply and cost of constructing new car parking facilities.
- Attractive location of car parks generally in high profile, well-known locations.
The developer benefits by selling at a yield more attractive than achievable by selling the car park in one lot. Our experience exends as both lessee and developer in a number of strata title car park projects. Our investor base exceeds 2000 people to whom we pay monthly rentals on strata titled lots.
Strata title projects in which Care Park has participated include:
- Tribeca, East Melbourne – 60 spaces
- Metropol Fitzroy Street , Melbourne – 200 spaces
- The George – Fitzroy Street, Melbourne – 250 spaces
- Clocktower – Lygon Street, Melbourne – 300 spaces
- Cornwall Square Launceston, Tasmania – 100 spaces
Our project in Launceston of 100 bays was sold out in just one week!