These FAQs are designed to provide a better understanding of our Park and Fly Sofia project. If you have additional questions, please contact your advisor or contact us directly.
All parking spaces are purchased as a private commercial property investment. Investors are free to sell, let or manage their own spaces at any time using any agent they choose.
Yes, you can re-sell your parking space at any time and selling your property could not be simpler. Park and Fly can market your space upon your request. We believe that because your property is so competitively priced when new, they will make a very attractive sale proposition to new investors in the future. We also expect that many end users will wish to purchase their own parking spaces, if they are frequent flyers/tenants, this then becomes more cost effective becoming a personal investment opportunity.
At the investor’s request, Park and Fly will re-sell their parking space at any time (subject to a 5% resale fee). Park and Fly will market the parking space at a minimum 25% above the initial purchase price to potential owner-occupiers, business users and other investors.
A management charge will be deducted from the rental income received along with the service charge for the property. The annual service charge is also payable, full details of all these charges and the rental returns are outlined on our current price list. All percentage returns are quoted after management and service charges have already been deducted, please refer to the price list within this brochure for a full detailed breakdown.
A parking space is a long term asset backed income generating commercial property, which has excellent projected capital growth. Parking spaces underpin and help diversify any investor’s future investment portfolio.
The market valuation of one car parking space is EURO 21,500. Investors are offered the property at this discounted rate and we believe airport long stay parking spaces are the most cost effective parking facilities producing the highest yields on the market today. Multiple parking spaces can be purchased using one land registry title deed, this saves on completion costs on larger property investment portfolios.
Parking space rental starts at EURO 35 per week. The optional 6-year rental contract on your parking space has fixed upwards only rental reviews and break clauses for both parties every 2 years. This produces a guaranteed 6% yield on your investment within the first two years per annum, this then is predicted to rise to over 8% return in years 3&4 and then surpass 10% return in years 5&6.
Yes, as with all Bulgarian property purchases you will receive the ‘Title Deed’ registered in your name at Land Registry after completion.
All of our car parks have excellent security alarm systems and the latest CCTV. Your parking space can be accessed 7 days a week. All car parks have secure access entry and exit systems and are manned throughout the day.