Hangar Ownership
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Join Date: Dec 2000
Location: Sydney NSW Australia
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Hangar Ownership
just a few question on Hangar ownership on council owned airports (airfeilds within the sydney basin, central coast or lower hunter).
Firstly is the land the hangar stands on considered freehold or leasehold? or other?
once you own the hangar, (if you can actually own it) can it be used for other purposes apart from aviation? eg, manufacturing (aircraft parts?) can it be used for accomodation? as seen with refurbished warehouses?
any info would be greatly appreciated.
as to why im curious, my business has outgrown its small depot in granville, and a hangar would be the perfect place to store trucks, transfer stock, as well as indulge in my hobbies of building kit and plans built aircraft. acess to taxiway will be needed.
thanks in advance
Firstly is the land the hangar stands on considered freehold or leasehold? or other?
once you own the hangar, (if you can actually own it) can it be used for other purposes apart from aviation? eg, manufacturing (aircraft parts?) can it be used for accomodation? as seen with refurbished warehouses?
any info would be greatly appreciated.
as to why im curious, my business has outgrown its small depot in granville, and a hangar would be the perfect place to store trucks, transfer stock, as well as indulge in my hobbies of building kit and plans built aircraft. acess to taxiway will be needed.
thanks in advance
Join Date: Mar 1999
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Looked into this in some depth back in NZ a few months ago (wanted to buy one as an investment). Can't speak for Sydney though, but some general advice ...
Generally speaking they're on lease hold land. You only own the building, and you should do a veeerryyyy thourough search of the fine print of the lease, with regard to things like your rights if they ever decide to expand the airport and build a new runway or terminal extension or car park in the middle of your hangar. Sometimes they're obliged to compensate you but a lot of the time they're not.
Obviously from an economic point of view, you don't get anywhere as much long term capital gain on a lease hold property, and most banks will only finance them to a maximum 50% LTV.
Talk to the airport manager about what you can and can't put into your hangar. There is a clause in most leases about 'aviation related purposes' only but they didn't seem to mind if you just store some stuff in there, in fact there was one bloke who had a car panel beating and painting workshop in one of his hangars next door to the one I was looking at, so I guess it can be done.
You can't 'legally' live in the things cos they're business premises, but everyone does it anyway, they just declare their hangar flat to be office / lunch room / toilet for the staff. The only big drawback, is that you almost certainly wouldn't get insurance if you burned the place down and they could prove you were living in it.
Generally speaking they're on lease hold land. You only own the building, and you should do a veeerryyyy thourough search of the fine print of the lease, with regard to things like your rights if they ever decide to expand the airport and build a new runway or terminal extension or car park in the middle of your hangar. Sometimes they're obliged to compensate you but a lot of the time they're not.
Obviously from an economic point of view, you don't get anywhere as much long term capital gain on a lease hold property, and most banks will only finance them to a maximum 50% LTV.
Talk to the airport manager about what you can and can't put into your hangar. There is a clause in most leases about 'aviation related purposes' only but they didn't seem to mind if you just store some stuff in there, in fact there was one bloke who had a car panel beating and painting workshop in one of his hangars next door to the one I was looking at, so I guess it can be done.
You can't 'legally' live in the things cos they're business premises, but everyone does it anyway, they just declare their hangar flat to be office / lunch room / toilet for the staff. The only big drawback, is that you almost certainly wouldn't get insurance if you burned the place down and they could prove you were living in it.
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Ultalights,
In my experience dealing with councils and hangars on airfields, it seems that different councils have different policies on the subject.
One council on the outer Sydney basin gives only a five year lease with no option on the land that you lease, then require you to give over the building upon moving in, and then charge you commercial rent, rates etc etc etc.
Also, they have rejected various non aviation related businesses in the past, instead of utilising industrial with aviation (less noise complaints).
My advice would be to approach each particular council concerned and see what they have to offer with the land, but I believe that you may have to sub-divide to get a longer lease hold...... and as we all know, if you are going to deal with council and their gastapo tactics then you had better get your wallet out of your back pocket!
Sorry, brings back night mares!
Cheers.
In my experience dealing with councils and hangars on airfields, it seems that different councils have different policies on the subject.
One council on the outer Sydney basin gives only a five year lease with no option on the land that you lease, then require you to give over the building upon moving in, and then charge you commercial rent, rates etc etc etc.
Also, they have rejected various non aviation related businesses in the past, instead of utilising industrial with aviation (less noise complaints).My advice would be to approach each particular council concerned and see what they have to offer with the land, but I believe that you may have to sub-divide to get a longer lease hold...... and as we all know, if you are going to deal with council and their gastapo tactics then you had better get your wallet out of your back pocket!
Sorry, brings back night mares!
Cheers.
I know it aint "Lower Hunter" but Scone has hangar lots available - freehold I am led to believe.
For details ring Neil Robertson at Pat Gleeson Real Estate on (02) 6545-2626.
Cheers
For details ring Neil Robertson at Pat Gleeson Real Estate on (02) 6545-2626.
Cheers
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thanks very much for the replies! some things there i didnt consider, time to start studying! freehold hangarage sounds like its worth a look! thanks again.
Next weekend might take a flight down to wedderburn and ask a few questions, i have noticed wedderburn rapidly growing over the last few yrs.! .... if only the owners of The Oaks would pull their fingers out and sell some hangar space!
Next weekend might take a flight down to wedderburn and ask a few questions, i have noticed wedderburn rapidly growing over the last few yrs.! .... if only the owners of The Oaks would pull their fingers out and sell some hangar space!
