Park Science

Asset Portfolio Analysis

Car Park and Portfolio Analysis

the mix of customers, technology and the physical environment

What you as an owner, manager or operator want from your car park will open the door to the options available to achieve these goals. Analysis is done on a site by site level breaking down the business into each product that is offered to customers, how it is priced, where they park within the car park and the technology that provides them with access.At an operational level we look at the most efficient way to run the business and how to minimise those key expenses including Parking Levies.

We examine what is the best legal structure to operate under - owner operator, leased or managed. For larger portfolios with multiple sites it is essential that standardised reporting and commercial agreements are put in place.

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Commercial Negotiation

Commercial Negotiation

getting the commercial structure right

Operating agreements for car parks are unique - too often standardised office leases are modified to work in this environment.

The agreement is more than a rent or a management fee - it needs to cover all the operational aspects of an evolving business and provide you with all the information required to make sure you can easily oversee tenure that will most likely range between 3 and 5 years.

With such short terms there are significant risks on expiry and we will assist you in navigating through them.

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Revenue Maximisation

Revenue Maximisation

how to increase yields

When astutely implemented, increasing capacity or parking rates are two ways of improving your assets revenues. However there are a number of more sophisticated methods that can be utilised depending on the profile of the site and its customers.

Parking is a dynamic business - and the profile of a site and its customer base can change very rapidly as a result of external factors including tenancy movements in the immediate area, competitor strategies and physical changes to the surrounding road network.

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Autonomous Vehicles

Autonomous driving car

what are the potential disruption outcomes for parking

The most common question I have from clients and business contacts is about autonomous vehicles and their impact on the parking industry. This includes the physical assets as well as operational businesses. Views range from severe disruption to parking operators (in the same way Uber has disrupted taxis) to opportunities for owners of large centralized assets (such as airports) to create their own mobility businesses.

Remember the hype on take up of electric vehicles? President Obama predicted in 2011 there would be a million electric vehicles on US roads by 2015. The actual number (despite massive rebates and tax incentives) was only 300,000.

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Parking: Forward to 2030

Parking 2030

future proof your asset

The advent of cheap and reliable data transfer has been the catalyst for technology driven change in the industry. The only certainty is data transfer will continue to get quicker and cheaper - which will challenge the traditional providers of access control equipment who are using platforms that are expensive to install and maintain and rely on restrictive proprietary software.

We will see new entrants to the market who will provide cheaper cloud based services that do not rely on expensive conduits and cables and have simple real time web based dashboards for management reporting and allow for commonly used smart devices to access car parks and buildings.

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Parking solutions for a busy city

Making space profitable

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Email: craig@parkscience.com.au
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