Argosy Property

Argosy owns a property at 82 Wyndham Street in Auckland’s CBD which had 41 surplus parking bays available for rent in a high-demand location.

As well as wanting to generate revenue from their excess car parks, Argosy was concerned about retaining security for their property and tenants. 82 Wyndham Street has access gates so that only tenants can enter and exit the car park, and they didn’t want to lessen their effectiveness.

With Parkable, Argosy’s 41 surplus parking bays are now 109% occupied on the average weekday. At the peak, Argosy’s car park had a daily occupancy rate of 124%. This is possible because long-term subscription holders can easily share their parks with others on the Parkable app. In short, the surplus car parks are now generating consistent revenue for Argosy.

Argosy also uses Parkable to manage their staff parking at 82 Wyndham Street. Seven of the unleased car parks are now allocated as free parking for Argosy staff, with Parkable used to manage and share the parks. Because Argosy staff work remotely part-time, on average four of these seven employee parks are shared with the public each weekday, generating more revenue from the car parks.