Liverpool Tops League Table for Most Profitable Area (Outside London) to let a Parking Space

By Prne, Gaea News Network
Monday, June 29, 2009

LONDON - Property owners in Liverpool could rent out their driveway, garage or allocated parking bay for as much as GBP1,476 per year (or GBP123 a month) according to a new 2009 league table of parking space rental. The statistics produced by Park Let, the UK’s largest parking space letting agent, show that Nottingham and Manchester are also particularly profitable areas with parking spaces earning GBP115 and GBP109 per month respectively.

2009 UK League Table (outside London). Rental income per month. Liverpool GBP123 Nottingham GBP115 Manchester GBP109 Brighton GBP108 Bristol GBP100 Leeds GBP98 Oxford GBP98 Birmingham GBP94 Edinburgh GBP93 Cambridge GBP71

The statistics exclude London to demonstrate how property owners around the entire UK could benefit from renting out their driveway, garage or parking bay. The most lucrative area in London for parking is Brompton (SW3) where a space can earn the owner upwards of GBP538 per month.

Luke Kelly, managing director, Park Let commented: “The fact that Liverpool is second to London for parking space letting may surprise some but the price is mainly dependent on the availability of spaces, or lack thereof. In fact despite Manchester being in third position in the league table, we organise a higher volume of contracts here than we do in either Liverpool or Nottingham which may mean that landlords can find tenants more quickly in this area.”

Kelly continued: “The areas where landlords tend to make the most income are usually better known for being commercial centres rather than residential areas and that’s why London does so well. Similarly if you examine Manchester’s figures, although the average is GBP109, we do have a parking space that is just a few minutes walk from Deansgate train station which will let for GBP200 a month.”

Park Let calculates the rental price of a parking space in much the same way as a residential estate agent agrees the rental price of a property with a landlord. There is a maximum value for a space in a particular postcode and other factors can influence the price too, such as proximity to facilities or congestion zones. Security is another important factor: spaces or bays with key-pad entry, electronic gates or even CCTV can demand a premium.

To help property owners determine how much their own space could be worth, Park Let has launched the UK’s first interactive parking space tool at www.parklet.co.uk/parking-rental-price-guide.aspx.

About Park Let:

Park Let has arranged over 10,000 rental contracts and has in excess of 20,000 parking spaces available to rent immediately across the UK. The company provides a fully managed letting service including matchmaking the tenant and landlord, preparing contracts and monthly rental collection.

For further information, visit www.parklet.co.uk or call +44-(0)870-162-4977. 2009 London League Table available on request. Media contact: Ali Cort Browser Media +44-(0)207-099-0945 ali.cort@browsermedia.co.uk

Source: Park Let

For further information, visit https://www.parklet.co.uk or call +44-(0)870-162-4977. 2009 London League Table available on request. Media contact: Ali Cort, Browser Media, +44-(0)207-099-0945, ali.cort at browsermedia.co.uk

YOUR VIEW POINT
NAME : (REQUIRED)
MAIL : (REQUIRED)
will not be displayed
WEBSITE : (OPTIONAL)
YOUR
COMMENT :