Airport car parking is now considered to be a premium, and this is thanks to the growth of people traveling worldwide. Investors have enjoyed seeing yields that are higher than the buy-to-let form of investment, and this is why investing in car parking spaces is one of the best forms of commercial property investment. Asides from that, it doesn’t require a lot of capital, and this is why it is an attractive investment.
In terms of gross rental income, airport parking is worth around $12 billion, and the demand is likely going to outstrip the supply in many airports throughout the United Kingdom. It’s worth pointing out that many airports are already operating near their full capacity, and this is on a daily basis. This means investing in airport parking is a great investment and the income potential is huge.
There is strong evidence that shows airport car parking spaces can produce high incomes for investors. Evidence also suggests that due to the expansion of global air travel, airport parking has long-term capital growth. Investments such as this are not in high supply but they are in high demand.
According to the SAS, around 29% of passengers were on business travel, and this means that is a good percentage of people who are not subjected to the tourist industry’s vagaries, and it is higher than many airports in the UK, and this includes Manchester, Newcastle and Gatwick. Glasgow Airport is important and there is a chance that off-site parking will become a staple at the airport for years to come. Investing in off-site parking at Glasgow makes sense because the strength of investment in this type of parking is likely going to be powerful.
The report also confirms anticipated growth in parking. This goes for long stay parking capacity, and it’s worth noting that third-parties will provide the supply of parking spaces. The report revealed that long and short stay car parks will eventually peak.
There is going to be a strong demand for off-site parking for not only passengers but also airport employees. In a matter of fact, parking spaces for employees are at around 1,490. This means that there is year-round demand for parking.