When you’re looking to invest your money, you have to explore every avenue. In the area of investment in parking, we had not yet addressed the purchase of a concession parking space. We are going to take the example of the number 1 car park builder dealer : Indigo, formerly Vinci Park. The term amodiation is increasingly used to refer to this type of investment.
Investing in a concession or amodiation car park is like signing a kind of contract or emphyteutic lease with Indigo. We had already talked about the experience of Christopher who bought garages on emphyteutic leases, which offers a good profitability over time. Officially you are not the owner of the car park but simply a right of use of the site.
The profitability of an Indigo car park, ex Vinci Park in a few figures
The average turnover of a car park complex is around 2.2 M$ in a large city, and $ 640,000 in the provinces. An Indigo car park is a big cash machine that generates a lot of money. Thanks to the large volume of spaces that is concentrated on a small area with geolocation in the heart of the city centre. Investing in an amodiation car park allows you to take part in this great adventure.
“The first five years we lose money, the next five years we break even, and then we make a profit, which often funds ongoing projects. “Denis GRAND (CEO of Vinci Park).
The rental profitability of a car park in concession, amodiation
Most important factor before investing in a car park is the location, which is the strongest point for car park constructor dealers : they usually have the best available location in the heart of cities. The gross rental return on investment is bound to be very attractive. If you don’t want to lose money, pay attention to the charges that can reach peaks in a car park that is guarded day and night…
The advantages of buying a parking lot at a dealership
- Zero notary fees… you deal directly with Vinci !
- The geographical location of the car park in the city centre.
- The amount of the investment is not very high.
- Price negotiation is much easier than for a traditional purchase..
Disadvantages of concession parking
- The availability of space is limited in time.
- At the deadline, you lose all the capital invested.
- You don’t always know the company that operates the car park.
- Impossible to divide a space to put several tenants.
- You pay a property tax for this property in 80% of the cases.
Taxation of a place in concession, amodiation
The taxation of a parking space in concession or amodiation is identical to the taxation of a traditional parking space. You can choose between the income tax system for micro-land or real estate. You will find more information in the article that explains how to choose the right property tax system.
How to buy a dealership seat
If you are interested in investing in a parking space in a dealership, you should contact directly the dealers who manufacture large parking complexes ; such as : Indigo. To sum up, the important points to check when making this purchase are :
- The remaining term of the concession,
- Check that there is no delegation to a management company,
- The selling price in relation to the market value,
- The amount of property tax.
Beware of scams
An important piece of information comes from one of our readers, a victim of a parking space vendor who is amodifying a parking space abroad. As the income from this type of investment is often over 10 % and sometimes even as much as 18 % net, there has been an explosion in the supply of airport car park amodiation in major European cities. This market development attracts its share of ill-intentioned profiteers who do not hesitate to sell dreams and rip off their customers.
The airport car parks in amodiation
That’s the kind of good that comes back in the scams of the moment. A pseudo wealth management advisor (a real advisor must have a state diploma and not a paper certificate) approaches people to invest. Another time, it’s an advertisement on the internet that praises the merits of investing in car parks.
Unlike a physical car park that you can visit before buying, there is an additional risk when buying a paper car park abroad. Several large groups offer this type of investment which is profitable, you just need to have all the guarantees before investing.
The scams of the moment
Our reader invests in 3 airport garages in Austria and Portugal. The first two months go well with the announced revenue collection, except that the third payment never arrives . The individuals who carried out the fraud were posing as the well-known company Kaufman and Broad. Company that swindled our reader is called NIZARD Conseil, the interlocutor presenting himself as Mr. NORMAN. Another company in the mon of GUILLEMAIN apparently proceeds in the same way to extort money without having an official sales mandate. It is necessary to be vigilant because the name of a company changes quickly.
Our members are also seeing a sharp increase in ads selling its placements on social networks. Not all of them are scams, but we must remain vigilant. Scammers have company phone numbers. It is important to know that these numbers are rented on platforms abroad, on which it is easy to display a false identity. The company then asks to make a payment on two separate banks, supposedly linked to each country where the car parks are located. In the case of our reader, he paid the funds to Austria Bank in Vienna and Novo Bank in Lisbon.
▶ Did you know ? The Vinci group is also a victim
VINCI Airports has learned that its name and that of VINCI are currently being used for fraudulent purposes by individuals or companies offering real estate investments in airport car parks managed by VINCI.
Neither VINCI Airports nor VINCI have ever contracted with or solicited these individuals or companies. These are fraudulent facts.
VINCI Airports as well as VINCI Concessions filed a complaint against X for fraud with the relevant authorities.
A dry loss of $ 60,000 not including legal costs
Our reader lost $ 60,000 and filed a complaint. The facts are proven since Kaufman & Broad does not market these products. One must always verify the identity of one’s interlocutors, especially when they claim to be an agent of a large group. A quick phone call to the head office of the large company can validate an identity or a project, to avoid any disappointment.
This sad experience should remind us to be vigilant and always take the time to verify every piece of information without trusting people too much. The club’s team is sometimes demanding by asking you a lot of questions on the forum. The goal of the club is precisely to help you to apprehend the risks and scams beforehand. It’s a pity that this reader did not join our club before investing, I’m sure that a member would have noticed the flaw. Join our club to exchange on the forum and find the traps to not lose money !
How to avoid scams
The golden rule is to be very careful before entering into a contract with an agent. Take the time to check all the information given by the seller and contact the company that has mandated the sales representative. The precautionary principle is simple: if the seller is embarrassed by a question or has something to hide, beware and move on to the next investment project !
Be aware that a wealth management advisor or sponsored advertising can hide scams. We meet many wealth management advisors; ask them already if they are qualified to do this job. Beware we are not talking about a diploma like an internet training course, but a real diploma. Some schools offer accelerated training to become an asset manager, how can one be credible by spending 6 months in a university course when the real diploma is a long course.
Exchanging and sharing information remains the best way to avoid pitfalls. As in every sector, crooks are quick to adapt and perfect their techniques. Our forum is precisely dedicated to the prevention of its risks, do not hesitate : govern on the forum of the club.
You’re the victim of an airport parking scam
The first thing to do is to file a complaint with the relevant authorities. Then we recommend that you join our club to exchange on the forum with other scammed people and thus form a group to reduce legal fees.