Recent content by PMC

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    Buying a car park with 35yr rental to NCP

    Thank you for the detailed reply. I think a few other posters may of been correct in stating that I should start off small with some BTL properties. But again, I know nothing about this, like do you purchase out right or do you go intrest only so you can purchase more? I have a lot to learn...
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    Buying a car park with 35yr rental to NCP

    South West.
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    Buying a car park with 35yr rental to NCP

    Maybe I’d be best going the property route then. The car parks seem too big a business venture for a newbie. Is it best to buy outright or interest only mortgage them? Other than my own home iv no knowledge of BTL
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    Buying a car park with 35yr rental to NCP

    I just got the idea having read that a investment fund had done the exact same thing in Glasgow and Aberdeen, 2 car parks rented back to NCP at 4.2% and 4.75% on 35yr leases. deal was done by knights frank and i assumed if a fund is doing it then it must be legit. Iv had an email back from...
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    Buying a car park with 35yr rental to NCP

    Being honest here, yes that’s exactly what I thought would happen. Put down £800k, mortgage the rest. Watch £189,500 a year come in to me. It’s FRI leased so I’m not responsible for maintenance or repairs. The ground rent is peppercorn so as far as I’m aware shouldn’t be too expensive. Just...
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    Buying a car park with 35yr rental to NCP

    The 35 years was my bad, that was the original lease term with 17.5 left to run.
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    Buying a car park with 35yr rental to NCP

    Difference being in property It’s up to me to keep the house in good repair, with the car park NCP are responsible for it’s maintenance and repairs. It’s under an FRI lease.
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    Buying a car park with 35yr rental to NCP

    I only don’t like property because, any repair work has to be carried out by me as the owner and fees for having it run for me would eat a lot of profit I imagine?
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    Buying a car park with 35yr rental to NCP

    Apppreciate all the advice, thank you. The money was legitimately made by investing (gambling) on cryptocurrencies. So far then it seems that putting it into the ftse100 and hoping it stays around 4% is the safest option. I don’t want to end up as a statistic with regards to a fool and his...
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    Buying a car park with 35yr rental to NCP

    This was on my mind to be fair. I did think of an industrial unit, and as a keen golfer and as I live in a popular golf area, I liked the thought of an indoor driving range using the best launch monitors on the market. Maybe putting 10 of them in there. That one I’d have 100% cash to do it as...
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    Buying a car park with 35yr rental to NCP

    Thank you. Iv asked for further details regarding why the current owner is selling when there’s 17.5yrs left to run, and if NCP would be wanting to extend again after the 17.5 years. I look forward to hearing back from them.
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    Buying a car park with 35yr rental to NCP

    Also done a bit more reading. There is 17.5yrs left on the NCP contract. Also the lease runs out 2084 but with an option of extending until 2110 The lease benefits from 50:50 annual rental increases. 50% increases at 3% the remaining 50% increases online with RPI collar and cap of 1.5-5%
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    Buying a car park with 35yr rental to NCP

    Appreciate the reply. No I have zero experience in commercial building management. Just in a fortunate position to have a good chunk of capital that I want to invest to start my own business. I didn’t Actually stop to think of why it was for sale, but if there’s 35yrs left on the contract...
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    Buying a car park with 35yr rental to NCP

    The original post I asked about, that one is 6.4% a year. just seems to good to be true, but when it’s in a main newspaper and knights Frank where who sorted the deal out, makes me think there’s some legitimacy there. I don’t have the full asking price but would be in a position to put 30%...
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    Buying a car park with 35yr rental to NCP

    not sure it seems to be common for them. I came across an article last year where an investment trust bought 2 in Glasgow and Aberdeen for £14 million then leased them back to NCP for 30+ years with a 4.2% return. Just wondered if it is as good as it looks. Thanks for the reply.
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