Colliers' research shows that parking rates have also risen, with an average daily cost of $64 in Sydney and $58 in Melbourne.
seriously...who pays that? Maybe at Tullamarine airport
so let's do the sums...
$58 a day and assume that is only per business day and weekends are not used...ok call it $60 a day for 5 days a week and say 50 weeks a year...250 days x 60 = $15,000pa.
If you consider that a marginal investment would net 5%pa (because you can easily get that in a term deposit), multiply that by 20 to get your 100% figure of $300,000.
Not bad if you can pick up that spot for $150,000...means you're getting closer to a 10% ROI.
However, as I said...who the heck pays $60 a day for car parking on an on-going basis?
I know my sister parks in the CBD every day and pays $140 a month (x12 = $1680pa) less the nearly $1000 city council levy = $680pa x 20 to round it up to a 100% figure based on a 5% ROI = $13,600 purchase price
nope...I wouldn't buy a car park @ $150,000.
(mind you, it's off near cnr Spencer and Flinders somewhere).
I wonder how much a bicycle parking spot would be...oh yeah...they're free