Shepparton multi-level carpark on the market

CARPARK FOR SALE... The Greater Shepparton multi-level carpark freehold is on the market. Photo: Steve Hutcheson

OWNERS of the multi-level carpark in the Greater Shepparton CBD have put the freehold and eight other carparks across the country on the market while maintaining a long lease with each.

Care Park is 75 per cent controlled by Hong Kong-listed conglomerate Far East Consortium. Car parking is a $1.2B industry in Australia, according to research house IBIS World.

Care Park managing director, Robert Belteky, said, “the sites the group are selling were all strong performing businesses with established trading histories.

“The sales will help us free up capital and underpin the next growth phase of the business globally,” he said.

The car park was originally built by Shepparton council in 1973 but it was sold prior to the Council amalgamation in 1997. It is expected to realise more than $2M+ on selling.