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Carparks Flinders Carpark Melbourne

Discussion in 'General Property Chat' started by Beano, 22nd Jun, 2016.

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  1. Beano

    Beano Well-Known Member

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    I have found carparks and land have gone up far more than buildings
    The Flinders St Carpark is for sale
    Anyone showing an interest ?
     
  2. Jasmine

    Jasmine Well-Known Member

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    Generally buildings are sold with land. :)
     
  3. Beano

    Beano Well-Known Member

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    Yeah !
    that's why the last 29 purchases (4 had options so i only have 25) have only been land ...left the building to be owned by someone else
     
  4. Iamnumber5

    Iamnumber5 Well-Known Member

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    Would you be able to provide the link?
     
  5. Beano

    Beano Well-Known Member

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    The Australian Financial Review today p33 selling through Colliers 315 parks
     
  6. Iamnumber5

    Iamnumber5 Well-Known Member

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    Thanks Beano, I will try to find the article.
    What sort of return would you consider a good investment for car parks?
     
  7. hash_investor

    hash_investor Well-Known Member

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    I envy the time these retired guys have :D
     
  8. Beano

    Beano Well-Known Member

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    Unless the rental is under market (and you have the ability to increase it ) i would want it to be positive yield . So net yield 5%plus
     
  9. Tony3008

    Tony3008 Well-Known Member

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    aushousingcrash likes this.
  10. larrylarry

    larrylarry Well-Known Member

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    I know someone owned 3 carparks in Sydney CBD area and found it difficult to sell. The levies erode the yields I believe.
     
  11. Chabs

    Chabs Well-Known Member

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    Flinders Street car park hits market


    @Beano , I would be cautious if your view is a long term one. Car parks should lose value after self driving cars become a thing. All signs so far are indicating that they're not too far out, and because of their design/limitations, self driving cars are likely to be most popular in CBD areas.
    Uber is also becoming more appealing as traffic, car parking and maintenance prices go up.

    Of course the development potential of the place seems huge, so as long as you hold it long enough and it is self funding, you're going to have some prime real estate.
     
    Iamnumber5 likes this.
  12. Beano

    Beano Well-Known Member

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    Very good point