Q-Park are delighted to confirm the purchase of the long leasehold of the IFSC car park in Dublin City Centre.
Q-Park are delighted to confirm the purchase of the long leasehold of the IFSC car park in Dublin City Centre.
Last year Q-Park completed the well-publicised purchase of Park Rite and part of their portfolio was the lease of the IFSC car park located just North of the River Liffey and just a short distance away from the 3Arena. This parking facility was popular amongst a wide variety of different customer groups, well located but most importantly there were many areas where Q-Park could make improvements to delight both new and existing customers.Since taking over operation of the facility, Q-Park have undertaken a number of projects to bring the car park up to their exacting standards. Up first was the installation of the recognisable Q-Park branding on the building’s exterior, as well as improvements made to customer wayfinding internally with clearer signage now fitted in both the vehicle and pedestrian areas. Q-Park then installed the futuristic PaSS Automatic Number Plate Recognition system to provide seamless access for both long-term and short-term parkers as well as opening up the parking facility for mobility partners to grant access to their target audiences. This was done as part of a full refurbishment of the onsite parking management system. Next up was the completion of painting in both the pedestrian and vehicle areas including repairs and improvements made to the parking decks themselves, this has given the car park a much more modern and fresher feel. Finally, the power supply from the local electricity grid was then increased to the facility, enabling the installation and commissioning of EV Charging Points as part of their nationwide EV infrastructure rollout.
Q-Park values strong relationships with landlords across Ireland and maintains open, positive dialogue with them. During these discussions, an opportunity arose for Q-Park to acquire the long leasehold of the parking facility. After extensive negotiations, the purchase was successfully completed, bringing satisfaction to all parties involved.
James Pollock, Director of Acquisitions & Real Estate at Q-Park Ireland commented ‘We are absolutely thrilled to be able to complete the purchase of the Q-Park IFSC parking facility. Our financial robustness and strong foundations allow us to make such significant investments. We look forward to providing further enhancements to this car park in the near future.’
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.
