Asset Management

Review of Portfolio of 14 Car Parks and Development of Strategy for Improving Performance

Client

Horsham District Council

Property Description

2,540 spaces, in 14 car parks serving the town centre and providing both long- and short-stay parking.

Project Summary

  • Assess current performance of car parks
  • Determine future parking needs of town
  • Develop strategy for improving every aspect of performance

TownCentreParking’s Role

Town Centre Parking was involved from the early stages of the project and fulfilled a comprehensive role that included the following:

  • Inspection of car parks
  • Collection and organisation of comprehensive performance data
  • Detailed analysis of performance data
  • Analysis of charges in Horsham and competing towns
  • Assessment of current demand and supply conditions
  • Development of cost/revenue matrix
  • Detailed cost/revenue forecasting
  • Discounted cash flow analysis
  • Report to client, with recommendations and strategy for improved revenue performance, rationalised operating costs and improved service levels

Conclusion

A detailed study of the individual car parks, viewed in the context of the portfolio and wider transport objectives, along with an assessment of the demand and supply conditions in the town, facilitated the development of a strategy that in the medium- to long-term will enable Horsham DC to significantly enhance the performance of a key asset.


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