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.