Car Park Investment - Is it a Scam?

batterybunny

Malthusian wrote: »

8% a year is not too good to be true.

Then I'll let you put your money in first...

dividendhero

One thing about this "investment" that rings alarm bells - how can you check how much your car parking spot is used? Though that's irrelevant as the car park spot doesn't even exist

Katiewhy2

Mine exists- I've seen it and it is being utilised- Mine are in Gatwick.
I think some of the spaces in Glasgow aren't being used.

JohnRo

Being utilised by the boss's ferrari?

You can be sure of one thing, if that space is being used as intended and genuinely generating revenue for PF, little if any of that money is going to be heading your way.

jimjames

Katiewhy2 wrote: »

Mine exists- I've seen it and it is being utilised- Mine are in Gatwick.
I think some of the spaces in Glasgow aren't being used.

How do you know which one is yours?

Utilisation is something I always wondered about with these. When I park my car at an airport I'm generally not allocated a specific spot, I just park. So how do they know that my space has been used, surely it has to be an average amount for all the spaces in the park.

dividendhero

jimjames wrote: »

How do you know which one is yours?

And how do you know they haven't told multiple people they all own the same spot?

Katiewhy2

Its on a site plan- Its on the land registry details.

Aretnap

jimjames wrote: »

How do you know which one is yours?

Utilisation is something I always wondered about with these. When I park my car at an airport I'm generally not allocated a specific spot, I just park. So how do they know that my space has been used, surely it has to be an average amount for all the spaces in the park.

ParkFirst's Gatwick operation seems to be a meet and greet/valet parking operation, where someone parks your car for you. So I suppose in theory they could tell which space they were using. However I wonder if they do - Google Earth shows their car park as a "cram them into every square inch of space" sort of place, rather than a "nice, neat white lines and numbers spaces" sort of place, so I guess you could have two Minis or half a Hilux in your space at any given time.

https://www.google.com/maps/place/ABC+Gatwick/@51.1605446,-0.12144,215a,44.2y,1.59t/data=!3m1!1e3!4m5!3m4!1s0x4875eef1ff755bb7:0x7a6e80cdc53ffaf1!8m2!3d51.165525!4d-0.12345

As an aside, on a rough calculation, at £25K/space that small patch of tarmac is "worth" somewhere north of £5m - about ten times as much as the well-to-do houses with similarly sized gardens just down the road. Which is nice.

dividendhero

Katiewhy2 wrote: »

Its on a site plan- Its on the land registry details.

Have you paid £4 and checked with the land registry? It seems very odd that they've broken up a car park into hundreds of plots and got someone to do a conveyencing transaction on them all

Shashy

Katiewhy2 wrote: »

Be careful of the calls from GRL offering to buy back the car parking spaces for more than what we paid for them- They will handle all the paperwork etc etc and its easy and straightforward as they have a company that wants to buy them up for a concierge service.
A little bit of google searching and its likely to be another scam

As you were told on here months ago.