Expanding car parks operator Apex Parking has doubled the size of its portfolio by acquiring 10 new properties.
The company has also rapidly grown its workforce with its headcount now standing at 44 after transferring in 21 staff from a previous operator in one day.
Apex Parking‘s newest locations are Pall Mall, Moorfields and Rumford Street in Liverpool, Chorlton Street in Manchester, The Core in Leeds, New Street, Royal Angus, Londonderry and Horsefair in Birmingham and High Street in Weston-super-Mare.
The company, which was founded in 2021, already operated 10 car parks in London, Liverpool, Manchester, Chester, Bristol, Stoke, Ipswich and Hounslow.
The new acquisitions came about after National Car Parks (NCP), which was founded in 1931 and with a portfolio of 340 UK car parks, went into administration in March.
Landowner GreenPoint, a global real assets investment firm with more than $1 billion of equity under management, decided to move away from NCP and the administration process and find new operators for their 32 sites.
Working through their pan-European business management company partner Lysara, GreenPoint decided to split its portfolio between Apex Parking, which already ran three sites for them, and another operator.
Director Ben Sullivan said: “We are particularly pleased to have been chosen as the as preferred management partner for these 10 car parks by GreenPoint.
“We believe their decision was very much influenced by the work we have done to turn around the existing three sites but also for the significant commercial support and insight we gave them post-NCP’s administration announcement.
“This expansion is another significant step in our journey and reflects the confidence our clients continue to place in our team.
“Strategically it has worked out very well for us, geographically complementing our existing sites and allowing us to both expand and move forward rapidly through economies of scale.
“We will be upgrading the car parks to the most modern standards, making the lighting better, changing bay markings, improving and reducing signage, increasing safety aspects and dealing with anti-social behaviour.
“The installation of new equipment, supplied by APT Skidata, is making the act of parking simpler and more pleasant – and we offer competitive prices, with discounts for subscribers and season tickets and also reward schemes.
“We would like to reassure drivers by pointing out that we will be honouring season tickets previously bought through NCP for our 10 new car parks, even though we are not obliged to do so by law and most likely will not be receiving any of those funds.
“As a responsible employer we are also dedicated to improving the facilities for our dedicated and hard-working staff. They are the face of our business, the people interacting with our customers and dealing with any issues.”
“Working with a landlord who understands our vision in terms of putting staff back into car parks is so refreshing, as is the appreciation that we need to invest to build a decent, sustainable business and it is the long-term revenues we are looking at, not making a quick buck and disappearing.”
Scott Parsons, chief executive of Lysara, said: “Over the past few months, the team has worked at pace to transition 30assets into a stronger operating structure, securing long-term income with Q-Park across 20 sites and retaining attractive operational upside across a further 10 sites with Apex.
“This is an important milestone for Lysara. The new arrangements strengthen the quality and resilience of the portfolio, refocus on the customer experience and preserve our flexibility to integrate new services, including EV charging, overtime.”
Apex Parking, founded in 2021, operates 20 car parks across England, including London, Liverpool, Manchester, Leeds, Chester, Bristol and Birmingham
Visit https://apex-parking.co.uk/ for more details.
