Airport parking is a relatively new type of investment product and it is getting more and more popular each day due to being a property investment that not only provides high returns, but also has low risk, unlike most other types of property investments. The parking industry is presumed to generate more than £12.5 billion annually in gross parking revenues in the United Kingdom, which exemplifies the extent to which the airport parking industry is booming within the UK market. Another reason why you should invest in airport parking spaces is the increasing number of airport passengers, year on year.
Recently it was reported that more than 220 million passengers had passed through UK airports. In addition, the number of people who decide to travel by plane is higher every day: Britain has seen an almost fourfold increase in air travel in the last 30 years. More specifically, London Gatwick Airport has achieved 30 months of consecutive growth with 40 million passengers over the past 12 months; also this same airport has recently announced that August of this year has been the busiest month in its history with more than 4.53 million passengers travelling through it. Otherwise, Glasgow Airport reported record statistics last July: it was the busiest month in seven years counting 956,483 passengers – an increase of 13.7% – representing its ninth consecutive month of double digit growth.
Interpreting this data, we can conclude that people travelling by car to the airport and needing to park their vehicle in close proximity is getting higher. A large problem is that finding somewhere to park your car while you are away is not always an easy task. The 24,000 car parking spaces at Gatwick Airport are currently not able to cope with demand, and the price of airport parking is also souring. For these reasons, the number of car parks around the airports is growing exponentially, providing a great opportunity to investors to turn this situation to their advantage and reap the benefits.
Currently, single parking spaces at a UK International Airport are being sold from only £20,000. Therefore, if you are interested in owning a parking space in one of Britain’s busiest and fastest growing airports and would like to see a substantial rise in your capital, now is the time to invest!