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Is it Time to Look at Car Parking Spaces as an Investment?

Peter Hemple looks at the latest investment class to gain favour with the 'hands free' crowd

Since 9/11, airports around the world have quickly become the place where you are least likely to be in danger, thanks to the high levels of security, but is it a safe place to park your cash?

The list of hands free investments continues to grow. First we had hotel rooms, which ended badly for GuestInvest of course, but was followed by specialised hotel room investments at spa's, wildlife reserves and even cruise ships. Then came student rooms, or pods, rooms at care homes, office space, storage space, garages and now we have car parking spaces.

To start with, most schemes are focusing on car parking spaces at airports, while others are focused on stadiums, but considering the dire straits that many local councils now find themselves in financially, you could soon be offered the chance to buy a metered space on your local high-street from the council, which would at least soften the blow if you get a ticket because you returned to your car 30 seconds late!

At the moment, the UK parking industry is estimated to generate more than £12.5bn annually in gross parking revenues and of course, the main reason these investment schemes are thriving is because Government has kept the base rate at 0.5% for so many years and people are sick of not earning any interest on their savings. After all, the best hands free investment is still to leave your money in the bank and let it increase by 5% or more each year, but those days appear to be behind us, perhaps forever.

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