Landsec Portfolio

Written By Matthew Wilson

ADVISORY

Strategic asset review of 12 car park Landsec portfolio

TCPL was instructed by Landsec to undertake a review of 12 car parks across its UK retail/leisure portfolio. The primary objective of the exercise was to establish an operational strategy for the car parks and identify options for the provision of electric vehicle charging across the portfolio.

TCPL’s scope included the following:

Asset Review

  • Analysis of historic performance and post-COVID recovery

  • Forecast vehicle numbers, revenue, and operating costs

  • Forecast ERV/NOI

  • Consideration of any special situations (known operator demand for a lease at location, redevelopment, environmental legislation etc.)

  • Initial recommendations for future operation

Operator Soft Market Test

  • Engaging with suitable operators

  • Assessing level of interest and establish preferences with respect to agreement type, duration etc.

    EV Charging Review

  • Review of previous market engagement

  • Review offers received and their financial and operational impact

  • Recommend optimal agreement type and procurement route


TCPL’s work was instrumental to the subsequent appointment of car park operating company APCOA as management contractor across Landsec’s portfolio.

Matthew Wilson
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