Asset Management

Upgrade of Car Park Serving Retail and Leisure Scheme in Oporto, Portugal.

Client

Sonae / Invesco

Property Description

3,300 space multi-level car park, serving 50,000 sq. metre shopping centre situated in the centre of Portugal’s third city.

Project Summary

  • 12,000 cars per day
  • Constrained traffic circulation on surrounding road network and within car park
  • Poor quality parking environment, ill-discipline of customers and poor management

TownCentreParking’s Role

TownCentreParking was instructed to carry out a full review of every aspect of operation, determine how best to improve the quality of the parking environment and assess the revenue potential of the car park. The following work was undertaken:

  • Full audit of every aspect of car park operation
  • Determine strategy for improving operation
  • Specify refurbishment works
  • Develop cost/revenue matrix
  • Cost/revenue forecasting
  • Discounted cash flow analysis
  • Assessment of methods of operation
  • Oversee implementation of recommendations

Conclusion

Our ability to appraise every aspect of the car park enabled us to determine an holistic strategy for improving performance and in particular, levels of customer service, which is obviously crucial in a car park serving a major retail scheme. As well as dramatically improving the quality of the environment, the refurbishment works also safeguarded the longevity of the structure.


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