Description

These 2 Car Parking spots in a central location to the Brisbane CBD represent excellent value for the investor or someone that is working in the Brisbane CBD.

These strata titled parking bays average $300 each per month (currently leased at $360 / mth), which represents a 7.2% gross yield.

Outgoings - Costs are based one car bay only.

Brisbane City Council - $911.80 yearly.
Strata Fees (Stratacare.com.au) $730.00 yearly.
Queensland Urban Utilities $235.00 yearly.

Features include:

Centrally located, 8 minute stroll to Queen Street in Brisbane City the carpark is a good alternative to paying as much as $89.00 per day casual parking rates in the city central.
A multi-story carpark, ATCP is Fully Automated, has Two Pay Stations and Multiple
Pedestrian Exits (maximum of 1.9m Clearance Height).
Second floor location.
Security &Surveillance Cameras operate continuously (24 hours/7 days) and are installed on all levels throughout the premises.
There are also vandal-proof DKS key pedestrian entrances for card holders (24 hours/7 days) providing patrons with peace of mind.
There is 24 Hour continual Surveillance, card Entry after Hours, locked after 7pm for
casual visitors but a card holder has 24/7 access.
ATCP is one of the best kept car parks in the owner’s experience, and the safety
procedures and monitoring remains vigilant and effective. The current owner has never experienced any safety issues and has had guest parkers (tenants) for over 90% of the time.

Current monetising methods.
The main methods of leasing the car bays are:
Direct rent from the corporate managing the bays on behalf of the parking bay owner.
Third party providers who facilitate the money side and take a modest fee.
Direct between owner and renter. This eliminates third party fees but requires the owner to do a little more work selling the space. This is the most cost-efficient method.