Asset Management

Operation and Construction of multi storey and surface car parks

Client

Quintain Estates & Development

Property Description

4,160 parking spaces in eight car parks, serving stadium, arena, exhibition space, factory-outlet and food retail, hotels, food and beverage and residential, all forming part of the Wembley City development.

Project Summary

  • Redevelopment of land around Wembley Stadium and Arena
  • Phased development, with fluctuating levels of parking demand and supply
  • Construction of new MSCP’s and surface parking

TownCentreParking’s Role

Town Centre Parking fulfilled a consultancy role that considered every aspect of parking provision, including the following:

  • Parking demand, including temporal distribution and dwell times
  • Strategy for optimising parking supply, including detailed consideration of Quintain’s contractual commitments to the Stadium, rationalisation of residential parking and the use of valet parking services
  • Car park design
  • Strategy for the operation of car parks, with the following issues informing this strategy: yield management requirements, optimising efficiency, nature of agreement with operator and optimal contractual relations, suitability of contractors operating in this market and value maximisation
  • Optimal pricing structure, having regard for user-profile and comparable schemes/facilities and the use of pricing to manage demand
  • Revenue forecasting
  • Preparation of tender material required for ‘auction’ of site-wide parking rights
  • Ongoing operational support, ensuring optimisation of every aspect of the running of the car parks across the estate pre-development and during construction

Conclusion

Town Centre Parking developed a strategy for the effective provision and operation of parking in what will be a very challenging environment, characterised by diverse customer groups and extreme peaks of demand.

We provided information that enabled the client to make informed decisions and to include the car parks in their funding strategy. We continue to provide comprehensive operational support.


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