Buying a Car Parking Space - Manchester

geoffky

they have got you bt the short and curly with this car park scam...that's what it is... a scam...utter madness but they have got all the aces....

geoffky

We also have an IFA who is being a great help and we are just following his advice at the moment so I am sure it will all work out in the end.

This rings alarm bells to me....do your own research is the number one when spending 100s of thousands of pounds of YOUR money...

A IFA told me last year that it was the best time ever to invest 1/2 million in the stock markets ad hoc good job i told him he was talking !!!!!!!! and walked away...

Quidco-ette

Now i'm getting worried - this house buying malarky is sooo... stressful :-(

Not a lot we can do about it now either :-(

GDB2222

Quidco-ette wrote: »

Now i'm getting worried - this house buying malarky is sooo... stressful :-(

Not a lot we can do about it now either :-(

You've actually exchanged contracts (solicitor, 10% deposit, etc), or just made a reservation and put a small deposit down?

If you've exchanged, let's hope it all goes through as hoped, in which case you don't have a problem. If it doesn't, though, you may have a case against your solicitor for neglecting to warn you. There's also a possibility that these clauses will be successfully attacked in the courts as being unfair.

Cardamom

Hi Quidco-ette,

I too am looking to buy a city centre apartment (in Manchester city centre), but am put off by the lack of parking (or should I say lack of free residents parking!) I'm not willing to pay 20k for the privilege. I went to see the new development behind Oxford Road and they were asking 125k for a studio apartment, and a further 25k for a parking spot. Needless to say that plan was abandoned straight away!

I would also have the problem of regular guests as I have a large family and we like to entertain. So parking for them would also be a hassle.

Should I stay away from buying an apartment?


Cardamom.

poppysarah

Unless you've got great reasons for living in the centre like you never want kids, work in the centre, hate driving a car etc I wouldn't.

A studio flat is a cupboard isn't it?

Quidco-ette

125k for a studio with no parking seems extortinate if you ask me??!

I know that in the dvelopment we have bought in you can get good size 1 beds for 140k plus they are offering an incentive package so I would expect to get that down to about 110k, also we are hoping to negotiate a good price on the parking so you may be able to get a 1 bed and a space for the same price as the studio you have looked at.

Do you mind me asking what development is it? Has the build been complete yet?

When we purchased our apartment we were told that there would be plenty of people renting out their car park spaces for £50-£100 pm so this will be our plan B if we don't get a heavy discount off parking.

Curious_Moose

The following link shows how much car parking spaces rent for in Manchester CC. You're looking at £95 - £120 pcm though obviously that varies depending on the development and availability etc.

http://www.citycentreparking.com/parking.htm

Natty082

Cardamom wrote: »

Hi Quidco-ette,

I too am looking to buy a city centre apartment (in Manchester city centre), but am put off by the lack of parking (or should I say lack of free residents parking!) I'm not willing to pay 20k for the privilege. I went to see the new development behind Oxford Road and they were asking 125k for a studio apartment, and a further 25k for a parking spot. Needless to say that plan was abandoned straight away!

I would also have the problem of regular guests as I have a large family and we like to entertain. So parking for them would also be a hassle.

Should I stay away from buying an apartment?


Cardamom.

In Manchester City Centre - YES - STAY AWAY! A work colleague recently sold his for 20K less than he bought it and is now renting before he lost anymore.

Rent in Manchester - Not buy - there is an over supply of apartments in the city centre. And especially if they are the ones right next to Oxford Road Station - If you decide to move and put it up for sale and I was a buyer i'd be worried about living so close the the railway line with the noise.

wymondham

Having read through this thread I recon it's time to develop the jetpack! (been thinking about it for a few days now )

Solves all these silly problems with car park spaces, and if I price it right at £15k it's sure to be a real winner with people - especially in Manchester!