Generating revenue with temporary car parking
A former computer depot used by Yorkshire Water staff in Bradford has been successfully generating revenue with temporary pay & display car parking since it was put up for sale several years ago.
Its owners, Keyland Developments – the property development business and sister company to Yorkshire Water www.yorkshirewater.com – had tried previously to self manage the site as a permit car park, but with no previous experience in car parking management, it ended up costing them more in time and management fees.
The 200-space car park is located just 100 yards from the new Westfield shopping centre that is currently under development, and is currently being marketed for sale with local commercial agents Mark Brearley & Co.
Car Parking Management Ltd (CPM) was approached by Mark Brearley and Co. to put forward a proposal to manage the site on a lease basis, but having surveyed the site, CPM proposed a management fee arrangement, which would be more profitable for Keyland Developments.
CPM took over the management of the car park in 2011 and installed new signage and three ticket machines. In early 2014, CPM were able to increase the revenue of the site by clearing and repairing the surface of an area that was previously unsuitable for car parking.
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Car Parking Management Ltd work with insolvency practitioners, commercial agents, investors, and private land owners to establish temporary car parks as a source of revenue whilst a site is undergoing sale, planning or re-development.
CPM is happy to operate on a formal lease, license or local arrangement depending on the level of flexibility each client requires. To discuss a potential opportunity, or if you would like more information, please contact us below.