| Q-Park B.V. (“Q-Park”) announced today that Pontegadea Inversiones, S.L. (“Pontegadea”) has acquired a 20% stake in the company from existing shareholders, including KKR.
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Q-Park are delighted to announce that they have agreed a 25 year lease to operate the Piccadilly Gardens parking facility in the heart of Manchester City Centre.
Q-Park are delighted to announce that they have agreed a 25 year lease to operate the Piccadilly Gardens parking facility in the heart of Manchester City Centre.
Q-Park have long held a strong presence across Manchester with 7 safe and secure car parks spread out across the city. Locations range from Q-Park Deansgate North that serves Manchester Arena and Victoria Station to Q-Park First Street that is located on the iconic modern development of the same name and even Q-Park Piazza which is underneath Manchester Chinatown. These parking facilities are very popular with shoppers, tourists and commuters visiting Manchester due to Q-Park’s commitment to security, design and customer service excellence. As one of the UK’s largest parking operators Q-Park have been on the hunt to grow their Manchester footprint for many years but it must be the right parking facility to invest in.
Q-Park Piccadilly Place is a 712 space multi-storey car park in Manchester City Centre. Located adjacent to Piccadilly Gardens and a short walk away from Manchester Piccadilly Station. The car park is also convenient for the major shopping areas and tourist attractions of the city. With this in mind, Q-Park saw the obvious potential and how they could add value to this asset and ultimately improve the parking offering for local stakeholders. Following negotiations a long-term lease was signed that will provide the opportunity over the next 25 years for sustained investment into the facility.
Operation of the facility by Q-Park staff commenced straight away and there are numerous projects that are going to be undertaken to introduce Quality in parking into Q-Park Piccadilly Gardens. As well as some refurbishment works and rebranding, Q-Park also plans to provide their whole suite of services into this parking facility in the next few months. This will include secure vehicle and pedestrian entrances to reduce the risk of unwanted visitors entering the car park. There will also be the futuristic PaSS Automatic Number Plate Recognition system installed to provide seamless access for both long-term and short-term parkers. Q-Park are well-known for providing convenient services in their parking facilities for customers to avail of including jump leads and an AEDs to assist in emergencies. The car park will also be included in their national EV Charging rollout with new state-of-the-art charging infrastructure planned to be installed over the coming months.
James Pollock, Director of Acquisitions & Real Estate, UK & Ireland said ‘We are delighted to be able to sign a long-term lease and commence operation at the Piccadilly Gardens parking facility. Customers can be truly excited about the improvements that we plan to make to their parking experience.’
About Q-Park
Q-Park is a leading off-street parking infrastructure owner and operator with well-managed commercial parking facilities across seven western European countries. We operate off-street parking spaces we own, have under concession or with long-term lease contracts from public and private landlords. We focus on off-street purpose-built parking facilities at strategic locations. We operate more than 3,600 parking facilities comprising over 706,000 parking spaces in the Netherlands, Germany, France, Belgium, United Kingdom, Ireland and Denmark. Based on publicly available industry data for our competitors, we estimate that we are a top three player, based on the estimated off-street revenues, in all the countries in which we operate. Q-Park also has numerous mobility hubs which provide access to a variety of mobility solutions. We house and support a range of activities from last mile logistics, electric vehicle charging, micromobility and car sharing services which help support urban accessibility, sustainability and liveability.