How To Make the Business Case for Car Park Expansions Stack Up
Expanding parking capacity is often a business opportunity with plenty of potential that never comes to fruition. It’s not that the demand isn’t there – there’s probably a queue of cars waiting outside your car park right now to tell you that more capacity would be welcomed. It isn’t even that there’s not the potential to expand. Over 80% of car parking in the UK is surface level only with plenty of scope to build upwards.
It’s more likely that the revenue lost during an extended building programme coupled with risks of delays and budget overruns makes the business case and financing cost hard to justify. And that’s before you get to the noise, dust and disruption that comes with a typical construction project.
There are, however, ways to minimise the revenue loss and truncate the development programme.
How Soon Could Additional Spaces Be Available?
If you had an existing 100-space surface-level car park, how quickly could you turn that into a 200 space car park? If you choose the Osborne, in partnership with Siderpark, modular parking system the answer is fifteen weeks. This is how long it would take to bring an additional parking deck into operation. If you wanted to add yet another deck this too could be operational after a further five weeks.
On average, your original car park would be unavailable for no more than ten weeks – and there are flexible options that can help here too. Work to fit-out the new deck can be completed once the structure is in place and original surface-level parking is restored to use. The modular system also allows you to redevelop in stages to retain some capacity throughout the project.
It Might Be Fast, But Will It Last?
Modular car parks can be a temporary solution or they can be semi-permanent. The design life of the Osborne and Siderpark solution is fifty years. And no maintenance will be needed for twenty five years. If a section becomes damaged it can easily be repaired without closing an entire parking deck.
People parking their vehicles in your new parking facility can also be reassured that the structure is fully waterproof. Their cars will be protected and they won’t have to dodge the drips on the way to and from their parking space.
The modular solution offers opportunities to turn car park expansion projects with marginal viability into solid business propositions. Discover how easy this can be by visiting our resource centre.