Asset Management

Pre-sale and construction of multi storey car park in Reading Centre.

Client

Amec (now Muse) Developments Ltd

Property Description

New-build, 770-space, city-centre multi-storey car park, forming part of the first phase of a mixed scheme of approximately one million square feet.

Project Summary

  • City-centre site acquired
  • Creation of temporary surface car park
  • Construction of new car park and office, leisure and ancillary retail

TownCentreParking’s Role

Town Centre Parking will, upon completion of the project, have been fully responsible for the following:

  • Design consultancy
  • Yield and space management consultancy
  • Develop cost/revenue matrix
  • Detailed cost/revenue forecasting
  • Discounted cash flow analysis
  • Valuation
  • Lease structure development
  • Negotiation with operators
  • Agreement of lease terms
  • Negotiation of sale to operator
  • Vehicle control and revenue collection equipment consultancy

Conclusion

Through detailed analysis of the revenue potential of the car park, Town Centre Parking ensured that Amec achieved maximum value through a sale to an operator, with the chosen operator providing a level of service and quality that boosts the whole scheme. Design advice ensured high levels of dynamic efficiency and increased capacity on a constricted city-centre site; thereby ensuring maximum revenue can be generated.


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