Q-Park Completes Purchase of the IFSC Car Park

Last year Q-Park completed the well-publicised purchase of Park Rite and part of their portfolio was the lease of the IFSC car park located just North of the River Liffey and just a short distance away from the 3Arena. This parking facility was popular amongst a wide variety of different customer groups, well located but most importantly there were many areas where Q-Park could make improvements to delight both new and existing customers.

Since taking over operation of the facility, Q-Park have undertaken a number of projects to bring the car park up to their exacting standards. Up first was the installation of the recognisable Q-Park branding on the building’s exterior, as well as improvements made to customer wayfinding internally with clearer signage now fitted in both the vehicle and pedestrian areas. Q-Park then installed the futuristic PaSS Automatic Number Plate Recognition system to provide seamless access for both long-term and short-term parkers as well as opening up the parking facility for mobility partners to grant access to their target audiences.

This was done as part of a full refurbishment of the onsite parking management system. Next up was the completion of painting in both the pedestrian and vehicle areas including repairs and improvements made to the parking decks themselves, this has given the car park a much more modern and fresher feel. Finally, the power supply from the local electricity grid was then increased to the facility, enabling the installation and commissioning of EV Charging Points as part of their nationwide EV infrastructure rollout.

Q-Park values strong relationships with landlords across Ireland and maintains open, positive dialogue with them. During these discussions, an opportunity arose for Q-Park to acquire the long leasehold of the parking facility. After extensive negotiations, the purchase was successfully completed, bringing satisfaction to all parties involved.

James Pollock, Director of Acquisitions & Real Estate at Q-Park Ireland commented ‘We are absolutely thrilled to be able to complete the purchase of the Q-Park IFSC parking facility. Our financial robustness and strong foundations allow us to make such significant investments. We look forward to providing further enhancements to this car park in the near future.’

About Q-Park

Q-Park is one of Europe's leading operators of owned, managed and leased parking facilities as well as parking facilities in the form of a mixed business model. Q-Park is known for its quality standards and has a portfolio of more than 3,600 parking facilities with more than 706,000 parking spaces and has a strong market position in seven northwest European countries: the Netherlands, Germany, France, Belgium, Great Britain, Ireland and Denmark. Q-Park has already equipped 39 locations in 22 cities in Germany with e-charging stations and is thus actively promoting the expansion of the charging infrastructure. The company pursues a sustainable strategy by expanding the charging points in line with actual demand. In this way, Q-Park is making a long-term and resource-saving contribution to electromobility.