CitiPark Purchases New Car Park in Rickmansworth

2017-06-21

CitiPark, one of the leading car park operators in the UK, is adding to its extensive list of branches with the purchase of a new parking facility in Rickmansworth, Hertfordshire.

The business has been managing the car park for the last 12 months and has now completed the purchase of the freehold for £2.3m. The new addition to the portfolio is close to underground and rail stations and acts as a vital link for commuters to London.

CitiPark, part of the leading investment and property development company Town Centre Securities PLC, boasts a portfolio of 15 car park branches, operating several in Leeds, Manchester, Watford and London. It has embarked on a five-year investment plan to update its existing facilities with cutting edge leading technology including introducing full automation, contactless payment, ANPR systems and LED lighting.

Ben Ziff, managing director at CitiPark, said: “We are delighted to have purchased this key site and add another great car park to our growing list of branches. We have successfully managed the car park for 12 months, understand what customers are looking for from the space and will be looking at ways to apply our knowledge, know how and experience, investing to make it a great location for visitors and commuters.

“This purchase marks the latest stage in our ambitious plan to continue to acquire car parks across the UK, including growing our portfolio in London and become the leading operator of state-of-the art parking facilities.”

The car park operator recently introduced a scheme that would see parking tariffs based on the emissions of the vehicles parking at its Clipstone Street branch in London’s Congestion Zone. Vehicle emission checks will be performed using advanced software developed by CitiPark’s parking partner, APT Skidata with vehicles that omit less than or equal to 75g/km of CO2 qualifying for the new ‘green tariff’. The green tariff will automatically be discounted by as much as 20% compared to the regular tariff.