Cars methodology: 4 steps to high performing car park asset

Contract: Whether it is negotiating car parks tender or reviewing an existing parking contract, we read and clarify the rulebook for interaction between the commercial real estate Owner and their Operator. This identifies quick wins, concerns and risks, and sets up the framework (play book) for the car park.

Analytics: are then used to assess the Car Park performance through six different lenses: 

Operational performance, Competitors activity and pricing, Marketing and Data Analysis, Community of interest, Compliance and Finance  

Review and Report:  The analytics are reviewed and summarised into a one page easy to read report. A regularly review process is crucial to ensure the asset performs to expectations and the Operator is performing to the Contract with governance and transparency. 

Strategise:  What is your Strategy? Where are you positioning your Car Park in both the short, medium and long term? For the short term you may be looking at price, yield and customer satisfaction, as well as operational and financial aspects. In the longer term how will technological advances and other trends affect your business? Will your asset is still relevant in 10 years time?