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Car spaces as IP

Discussion in 'General Property Chat' started by Darlinghurst Boy, 5th Mar, 2016.

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  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Darlinghurst Sydney
    i noticed an increase in Car Spaces for sale in Sydney CBD .
    Do you think Mortgage brokers give loans for these ?
    Is there any car space real estate website?

    Heres one in Kings Cross ... Actually 2 spaces ... Just the strata and council fees could eT up your returns. image.png
     
  2. The Falcon

    The Falcon Well-Known Member

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    Long term city of sydney wants cars out.
    Fees increase each year above cpi. A poor investment now imo
     
  3. pinkboy

    pinkboy Well-Known Member Premium Member

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    Are you sure about that?

    Certainly wont be bikes the way Duncan Gay and cronies are carrying on.

    pinkboy
     
    Mooze and Scott No Mates like this.
  4. The Falcon

    The Falcon Well-Known Member

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    Yep. For sure. All public transport. I'm in the CBD now daily. Look at what's happening to George st as a guide. I read something last year about the sky rocketing annual council rates/fees on parking spots. Will have a look around.
     
  5. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I looked at buying a parking spot in Parramatta, the strata and council fees were more annually than paying for 10 hour street parking per day all year and almost the same cost as all day secure parking.

    From an investment perspective the return after expenses was about $10 p.w.
     
  6. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Well the above car park would cost you $1600 yearly includes council and strata fees.
     
  7. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    What do they lease for in that area? Have you figured out the yield?
     
  8. imbi3

    imbi3 Well-Known Member

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    Possibly commercial loan using the car park as collateral @50% LVR