Instead of sitting empty, excess parking spots at Eden Business Park are 110% occupied
Over the past four years, Eden Business Park in Auckland has been using Parkable to fill their excess car parks. Around 170 of their parks aren’t leased to tenants, and would otherwise sit empty. Instead, by using Parkable, people can find and pay for hourly, daily and long-term parking, which has led to peak occupancy levels of above 110%.
As well as making their car parks available to members of the public, Eden Business Park tenants can also use the app to park onsite on a flexible basis, providing an extra tenant amenity.
The business park also uses Parkable’s IoT access control solution, which allows parkers to open the access gates using the app.
Peter Lim, the asset manager for Eden Business Park, says:
"We've been with Parkable for four years and our car parks have been consistently full, which means there's a reliable revenue stream from our excess car parks."
"Despite lockdowns, Parkable increased car park revenue by 24% through innovative methods like introducing in-app IoT access control and allowing people with a parking subscription to share it with the public, increasing the revenue that can be gained by each parking spot."
Recently, Eden Business Park has installed electric vehicle chargers and connected them to the Parkable platform, allowing EV drivers to pay for charging via the app.
Over the past 18 months, hotels have struggled with fewer guests. For hotels like Stamford Plaza Brisbane, this is partly solved by becoming an MIQ facility. But while hotel rooms are filled, the guest car parks often remain underutilised.
Commercial leasing agents are going above and beyond to help their clients to boost revenue between leases or when there's commercial excess.
Savills' multi-tenant commercial property in Sydney had 40 unleased parks. Using Parkable, Savills’ tenants can pay to park on a casual basis, and instead of sitting vacant, the parks are now 85% occupied.