Sydney Airport car parking spots now selling for $57,000

Sydney Airport car parking spots now selling for $57,000

Spaces at the Sydney Airport Park & Fly car parking station will be sold outright to the public for almost $57,500 under a scheme to offer 'strata shares' in the facility.

Double car park spaces carry a price tag of $104,500, according to a pitch sent to members of Park & Fly’s Frequent Parker loyalty program which touts a 6.5% net return per annum.

Under strata title ownership each car space could be "bought and sold without restriction" Park & Fly says. "The purchase of a Park & Fly car space presents a never before and likely never again investment opportunity".

Park & Fly Sydney occupies the former Ansett Australia carpark which was snapped up by a group of cashed-up investors when the airline collapsed in 2001.

The company says that car parking spots "both in Australia and globally are in extremely high demand", citing "sales frenzies" for parking spots in Hong Kong.

However, that market seems to have gone off the boil according to Hong Kong newspaper The Standard, which reports that "owners are finding it tough to sell - or even rent out - parking slots, and slashing prices seems to be the only way out."

But if you've got a lazy $60k floating around, click through to stratacarparks.com for more details on the deal.

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David Flynn
David Flynn is the editor of Australian Business Traveller and a bit of a travel tragic with a weakness for good coffee, shopping and lychee martinis.
 

6 comments

  • David

    airbear

    15 Nov, 2013 08:03 pm

    Silly me. There I was, thinking for a moment that $57K was the new daily charge for the domestic carpark. Don't laugh... anything's possible with SACL.

    Seriously, how idiotic are things becoming? Will getting a space at P&F become harder than it already is? Is the $57K for an undercover spot, or for the outdoor self-park area? 

    No member give thanks

  • watson374

    watson374

    16 Nov, 2013 12:38 am

    The only question I have is, "How the hell do I rent it out?"

    No member give thanks

  • David

    airbear

    16 Nov, 2013 01:14 pm

    Presumably, P&F manage the spot for you, like owning a unit in a Quest or Oaklands serviced apartment. But... If you as a frequent traveller, own a spot, do you have access to it anytime, at no extra charge? In which case, if I travel overseas regularly for weeks at a time, owning a spot would be the most economical thing. Park for say, 6 weeks or 6 months for no cost? Whacko. Where do I sign?

    No member give thanks

  • watson374

    watson374

    16 Nov, 2013 08:15 pm

    I think it's even more valuable for large organisations with many frequent flyers; the serviced parking lot(s) owned can be used by any of the organisation's road warriors.

    No member give thanks

  • David

    airbear

    18 Nov, 2013 11:32 am

    Yep. That's exactly what makes me worry that if this scheme "takes off" (pun intended, sorry...), it will become far more difficult for ordinary but regular travellers to get a spot, than it is already.  I am sure greed will win in the end, but all in all, a BAD IDEA (P&F management take note, if you are following this).

    No member give thanks

  • watson374

    watson374

    18 Nov, 2013 03:28 pm

    It's a great idea - for them.

    No member give thanks

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21 Mar, 2019 05:30 pm

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