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Article: Bargain car parks.
- Article from:
- Australasian Business Intelligence
- Article date:
- August 28, 2001
CopyrightCOPYRIGHT 2001 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug 29, 2001 (The Courier-Mail
ABIX via COMTEX) -- Brisbane's property boom has yet to extend to car parks. In Sydney and Melbourne, individual car parking spaces have become hot property, with prime city spaces now commanding up to $A70,000 in Melbourne and up to $A100,000 in Sydney. In contrast, prime Brisbane spaces only average about $A23,000. Spaces at the Festival Car Park in the city's CBD, which was recently acquired by Westpac Banking's Investa Property Group, work out to about $A28,871 per car park. Australian prices are still far short of prices in some Asian cities, with a Hong Kong car parking space recently selling for $A800,000.
WESTPAC ...