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Recently there has been a surge in Car Parking Space Investments being sold to investors They are assured of a high level of return which has proved enticing to many people looking to make some money on their capital. Promises such as the offer of the first (and sometimes the second) year’s return being given on day one. Many of our claimants invested in parking spaces from ‘Park First’, and The ‘Lanner Carparks’ schemes.
However, investors have discovered that this initial return is actually their own money being repaid to them after being factored into the purchase price. Sadly, it more often than not turns out that the car park generates far too little profit to repay the high levels of returns offered.
Any future returns are repaid by money generated from further car park space sales. This kind of investment scheme is called a ‘Ponzi’.
If you have purchased a car parking space it could have been mis-sold to you and out team of solicitors may be able to advise you on claiming compensation.
If you invested in car parking and the following factors apply, you may have been mis-sold:
- You earn under £100,000 per year
- You are not an experienced investor
- The risks were too high for your needs