Property Week and NCP hosts ThinkTank 2019

NCP - Think Tank 2019

Property Week and NCP brought together industry specialists to discuss several key issues and challenges affecting parking in the UK, at a breakfast event on Thursday 28 February 2019 at the Barnato Suite in the Grosvenor House Hotel in London. 

Gary Lee, national car park manager from Savills chaired this year’s discussion with input from Lee Holland, Property Director at NCP. Expert panellists at the 2019 discussion: 

  • Gerald Kingham, Associate Director at CBRE  
  • Mike Elrin, Parking Manger at Hammerson Portfolio
  • David Cohen, Investment Manager at Ellandi 
  • Grace Agnew, Investment Surveyor at Knight Frank Investment Management
  • Laura Gardner, Director - Living Capital Markets at JLL
  • Kevin White, Partner at Montagu Evans  

During the discussion there were three main themes which introduced a healthy debate amongst the attendees.

  1. Can car park leases underpin Shopping Centre values given the current yield gap between operators and retailers?
  2. What is the future for city centre car parks?
  3. Is there a future for physical car parks as the placemaking movement gathers pace?

The full discussion will be outlined here, and covered by a report in Property Week online and in print on 15 March.

Key takeaways: 

Can car park leases underpin shopping centre values, given the current yield gap between car park operators and retailers?

  • Adding Significant value
  • Attraction to investors
  • Increased performance

Do car park operators represent an opportunity to provide longer leases against the market norm of shorter terms?

  • Customer journey
  • Creating a partnership
  • Redevelopment 

Local authorities are putting a huge emphasis on reducing vehicle emissions in town centres. What impact will this have on car parking?

  • Targeting disconnect 
  • Electric vehicles
  • Ready for the future

What impact will new technology have on the sector?

  • Catching up to technology
  • Traditional parking
  • Future development

What is the future for city centre car parks and if you are going to build a car park now what will it look like?

  • Student accommodation
  • Redevelopment
  • Investor and developer partnerships

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