Although car parks are likely to remain a specialist asset class due to liquidity issues, the sector’s long-term potential is accelerating
With car ownership in Europe on the wane, and the continent’s leading cities increasingly driving private vehicles out of town with green policies, the investment case for car parks might seem to be dwindling. Yet with industry insiders calculating that around half a billion of standalone, investment-grade assets were traded in the sector in 2019, nearly twice the figure for 2018, it is apparent that investor demand is on the rise. Furthermore, the latest state-driven sustainability initiatives – plus the rising value of prime, down-town land in Europe’s leading cities – may actually be boosting the relevance of parking facilities, according to Primevest Capital Partners, one of Europe’s leading car park investors.
BY ISOBEL LEE
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