Direct Airport Parking Investment Ltd is a privately owned UK registered company. Direct Airport Parking Investment is the authorised and established Master Agent for Park First and is licensed by Park First to sell on its behalf, car parking spaces adjacent to major international UK airports.
We have a letter of authority and engagement to confirm our services and relationship with Park First which is readily available for our clients to see. A copy of our Certificate of Authorisation from Park First can be viewed on our website here.
Park First is a privately owned company and the biggest and fastest growing airport car park company in the UK with a total portfolio value in excess of £300 million at major international airports across the UK.
To date, it has sold in excess of 17,000 car parking spaces close to two of the UK’s busiest and fastest growing passenger airports, Glasgow and London Gatwick, paid over £41 million in rental returns and created £64 million capital growth for its worldwide investors.
Park First is constantly expanding its portfolio of airport car parking spaces, with new locations regularly becoming available.
Like all limited companies in the UK, by law we are registered with Companies House. You can look us up at Companies House online or call Companies House directly if you would like further information. Our company number is 09523592.
The registered address of the company is Direct Airport Parking Investment Ltd., 4 Clews Road, Redditch, B98 7ST. You can contact us at our office address:-
Direct Airport Parking Investment Ltd
20 Market Street
Tel: +44 (0)161 820 4956
Direct Airport Parking is the accredited Master Agent of Park First and has a letter of authority and engagement to confirm our services and relationship with Park First which is readily available for our clients to see.
Direct Airport Parking Investment is the authorised and established Master Agent of Park First. This means that we are licensed by Park First to market for sale on their behalf, airport car parking spaces adjacent to Glasgow, London Gatwick and other airports being added to their portfolio from time to time.
A copy of our Certificate of Authorisation from Park First can be viewed on our website here.
At the heart of every airport parking investment is a commercial property transaction (you are purchasing a long-term lease over your own individual parking spaces) so the simple answer is that, as a commercial property transaction, it does not fall under the remit of the Financial Conduct Authority (FCA) or the Financial Ombudsman Service (FOS).
Companies offering commercial property investments, such as Direct Airport Parking Investment, are not therefore required by law to be authorised or regulated by the FCA. In fact, nor could we be even if we wanted to, since we do not offer any financial investment products that would be subject to FCA regulation.
We choose, however, to operate our business according to the principles and guidelines of FCA regulation.
For the most up-to-date information on pricing, please contact us directly since the cost of an individual space can vary depending on location and time. Typically, it will cost in the region of £20,000- £30,000 to buy a single car parking space.
You have the option to buy a single car park space or multiple spaces, depending on personal investment objectives and availability.
Direct Airport Parking Investment does not charge you any fees whatsoever. There are three additional fees that arise from your agreement with Park First – a ground rental charge, an annual service charge and a management fee. Together, these charges ensure that your car parking spaces continues to operate effectively and ensure that you receive maximum returns from your investment.
Please remember that these charges are deducted before your rental income is paid to you so the guaranteed income in the first 2 years has already had those charges taken out, meaning that you receive the yield after deduction of all costs and charges.
A small annual ground rental charge (£100 for Glasgow and £150 for Gatwick & Luton) is deducted in order to maintain your rights as leaseholder over your parking spaces.
An annual service charge, which varies depending on location, provides for upgrading, maintenance and upkeep of the car park to the high standards set by Park First. This ensures that your car parking spaces retain maximum earning capacity throughout the lifetime of your investment.
A management fee of 15% pays for managing the car parking services used to generate rental income from your spaces. This includes state-of-the-art security, upkeep and running of the sophisticated online pre-booking system, maintenance, insurance, staffing, and the costs of operating the shuttle bus and valet services that form part of the parking service provided.
Since the management fee is based on a percentage of revenue produced by your space, this fee structure ensures that the management company remains fully aligned with your needs as an investor and owner of the space, because it is thus incentivised to maximise rental income for each and every car parking space to the benefit of both parties.
Returns are funded from fees paid by customers paying to park in your car parking spaces. We recommend that investors use Park First’s wholly-owned and long-established management companies to run this service on their behalf, as these companies have been operating the car parks successfully for many years – over 30 years in some locations. If you wish, you can opt to have an alternative management company provide this service instead.
If you choose to sign up with our recommended Park First management company, you will receive guaranteed returns for the first two years. This guaranteed income will be paid annually in advance, and in the first year will be paid shortly after completion of your purchase. Year 2 returns are paid on the first anniversary of completion.
From year 3 onwards, returns are no longer fixed, but will vary depending on occupancy levels and average prices paid by customers to park. Occupancy rates will be driven largely by the anticipated strong growth in passenger numbers, complemented by increased marketing spend and improvements to the car parks carried out by Park First’s management companies to the benefit of all investors. As a result, we expect annual income to rise. Current investors in year 3 have received returns in excess of 10% and year 4 is now guaranteed for these investors at 10%. Returns from year 3 onwards are paid annually, providing you with a regular investment income stream.
Please note that the returns described above are the net amounts paid to you after deduction of all fees and costs. There are no further deductions or costs that might reduce your rental income.
As with all investments, investors should recognise that the value of the space and its rental income can go down as well as up, and valuations and income levels remain subject to a variety of factors which may influence supply and demand.
Your funds are handled only by the solicitor representing you for the transaction, and never by Direct Airport Parking Investment. The majority of investors choose to use the Hetherington Partnership Solicitors. Hetheringtons are intimately familiar with this investment product having already assisted with numerous purchases. You are of course free to instruct your own solicitors should you prefer, at your own cost.
The Hetherington Partnership Solicitors are authorised and regulated by the Solicitors Regulation Authority and are members of the Law Society. For further information, please visit their website (www.thpsolicitors.com).
As part of our Code of Conduct, Direct Airport Parking Investment gives an undertaking to you and all our investors NEVER to handle investor funds – an undertaking that we take very seriously indeed.
Under certain circumstances you may need to employ a new management company to operate your car park spaces on your behalf. Whilst this is an unlikely scenario, there are many alternative car park management companies in the UK that could take over this role on your behalf. A full list of reputable airport parking management companies is available on request, and we can help you approach a suitable management company should that be appropriate.
You should note, however, that Park First is entirely self-funded through its own group company´s cash reserves, has 0% debt or financing across the board and remains in a strong financial position.
The best way to answer this question would be to take up our “Meet and Greet” offer of a visit to your preferred investment location, where we can show you exactly how the service, and your investment, operates. We strongly recommend you visit a site before you buy if at all possible, as we have found that this is easily the best way to answer your most pressing questions, and of course to allay any concerns that you might have.
We are also more than happy to welcome you to our offices near Manchester, or to arrange a visit to the offices of Park First. If you prefer, we can even arrange for one of our Client Liaison Managers to meet you at a location of your choice, whether that be at home or another more convenient place, such as your workplace. We regularly travel to all corners of the United Kingdom and overseas for face-to-face meetings with new and existing clients as we know how important personal contact is for clients both new and long-established.
You can check the address and site location for each car park on the Park First website (www.parkfirst.com) and then use these details to carry out your own “virtual tour” using services such as Google Earth.
Formal confirmation of ownership is available in writing from Park First’s solicitors, JWK Solicitors, including details of all relevant Land Registry title numbers. This document also confirms that the car parks are totally unencumbered, having no outstanding mortgages or charges attached. We can readily supply a copy of this document on request.
You can check the ownership of each car park location in England and Wales by accessing the Land Registry (gov.uk/search-property-information-land-registry), or for Scotland at Registers of Scotland (ros.gov.uk).If you wish to check the operation and management of the car parks you can find all the relevant detail by visiting the Park First website. Links to all available management companies are available here too should you wish to consider alternatives.
Each investor will receive a Title Deed registered with the Land Registry or Registers of Scotland, depending on car park location. This is your official “proof of purchase” which confirms ownership, as well as any rights, obligations, and mortgages relating to the property. Title Deeds can be confirmed and viewed at www.gov.uk/search-property-information-land-registry for property in England and Wales, and ros.gov.uk for property in Scotland.
We recommend that all investors take independent professional financial advice before purchasing car park spaces. In addition, we strongly recommend that you contact us to arrange a site visit before deciding whether buying an airport car parking space is right for you as this will give us an opportunity to discuss face-to-face any residual concerns you might have, and to demonstrate fully how the investment will work.
Prior to making a purchase you will be provided with all necessary documentation for you to make a fully informed decision. A qualified commercial property surveyor and member of the Association of the Royal Institute of Chartered Surveyors (RICS) instructed by Park First has carried out an independent valuation of the car park that you are considering investing in which includes a market valuation for each individual space within the car park, a copy of which will be shared with you before you proceed to purchase.
If you wish to commission your own surveying firm to conduct an additional survey you are of course welcome to do so, at your own cost.
Park First protects the first 2 years’ income by way of a sub-lease to its wholly-owned management company, thus making it possible to offer investors a secure guarantee covering that period.
The management fee pays for all aspects of providing the car parking service for your spaces including security, upkeep and running of the sophisticated online pre-booking system, maintenance, insurance, staffing, and the cost of operating shuttle bus and valet services that form part of the service being provided.
The management fee is structured to ensure that the management company is fully aligned with you as an investor and owner of the space, because it is thus incentivised to maximise the rental income for each car parking space to the benefit of both parties.
You can choose to sell your space at any time following receipt of your Title Deed, but you should be aware that, as the resale market is still evolving, there can be no guarantee of success.
Should you wish, Direct Airport Parking Investment will be happy at any time to assist in reselling your car parking space, subject to a 5% resale fee. We will market the space to potential owner-occupiers, business users and other interested investors. However, as with all property-based transactions, we cannot guarantee either the sale price or the ability to re-sell the space at any specific time.
Like all investments, the value of your car parking space and its rental income can go down as well as up, and all investors are encouraged to take independent professional financial advice before deciding whether buying an airport car parking space is right for them.
Projected returns are based on projected future occupancy levels and rents. In the event that actual rent and occupancy levels fall below these projections, revenues will be distributed to investors on a pro-rata basis and may therefore not reach the levels projected.
In the unlikely event that Park First or Direct Airport Parking Investment encounter financial difficulties, your lease will be completely unaffected, but you would need to employ a new management company to manage your investment. If this happens in the first two years of your investment, the guaranteed return may be affected under certain circumstances.
You should be aware there are no guarantees about the ability to sell on your car parking space, either in terms of the resale price, the timeframe for sale or ability to find a buyer.
We encourage all our clients to contact us at any time with any questions or concerns they may have.
You can call us at (+44) 0161 820 4956 or email to: email@example.com
We take our responsibilities to our clients extremely seriously, and in order to do this, it is important that we remain in regular communication with you. Therefore, once your purchase is complete, we will be pleased to continue our relationship with you and to be available for any after-sales queries that arise.
Our Client Liaison Support Team will be happy to answer any queries by telephone or email and we will also be pleased to arrange a face-to-face meeting at our offices or at a location of your choice.