Park First is en route to becoming one of the most important UK providers of long-stay airport car parking by the end of this year thanks to a formula based in “adding value through operational improvements”.
In March, this company will celebrate its sixth birthday and there is no better way than achieving great results: Park First is currently managing car parking worth more than £190M and its plans are focused on increasing its portfolio of top sites near the most crowed airports in the United Kingdom.
Park First already manages seven prosperous airport car parking spaces in Glasgow Airport and another four in London Gatwick, and both are in constant growth: a clear proof that their number of passengers doesn’t stop increasing.
In addition, areas around Manchester and Birmingham are some of the sites that are included in its future plans, which will help the company to become the most important reference in the sector by the end of 2016.
The policy of this company is based in acquiring existing long-stay parking sites near the most important UK airports where there is a high demand even when the facilities are poor.
Park First provides the possibility of purchasing individual or multiple parking spaces at its sites with high yields, guaranteed at 8% in the first two years rising to a projected 12% by years five and six. The minimum investment is £20,000.
“Our sites at Glasgow and Gatwick have just experienced their busiest year ever,” said Park First MD John Slater.
“Glasgow is the UK’s fastest growing airport, handling more than 8.7 million passengers last year ─ an unprecedented growth of over a million on the previous year. Meanwhile Gatwick smashed the 40 million passenger mark for the first time in 2015 and is the world’s busiest single runway airport, bringing renewed pressure for a second runway and further expansion.
“This phenomenal growth means increased demand for high-quality car parking serving both airports. It’s good news for us and great news for our investors, who are not only enjoying their guaranteed 8% yields in the first two years but now moving into the higher projected yield periods beyond that.
“Sites at Glasgow are now into year three and investors there are already receiving the 10% yields we projected for years three and four. I cannot think of another investment capable of returning such impressive yields on a relatively low initial outlay offering low risk and capital growth.”
Mr Slater stated that the successful formula was easy and always remains the same: to restore from the ground up and to the highest standard.