Parking Spaces How much are they worth?

D

DeeShannon

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When I sold my apartment in Templegardens Northwood, Santry we separated out the portfolio so we could sell our 2nd ground level parking space seperately, we are now hearing values from 5K to 15K and have no idea how much its really worth// any ideas?
 
DeeShannon said:
When I sold my apartment in Templegardens Northwood, Santry we separated out the portfolio so we could sell our 2nd ground level parking space seperately, we are now hearing values from 5K to 15K and have no idea how much its really worth// any ideas?
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Why did you do that? Did you think of the tax implications of that move, i.e. it seems to me that you could face a CGT liability on the disposal of the parking space. How much did it cost you to separate the folio?
 
Good point Sherman. By separating the portfolio, the second car space is no longer part of your principal private residence, hence your CGT liability will be 20% of any profit made on the space.
 
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