Car Parking Pressure

Tuesday 25 August 2015

Everyday Sydney commuter traffic demand increases. Travel times are elongated and frustration enhanced. As commercial leasing experts we also find that tenant demand for car parking spaces isn't weakening at all despite car space prices continuing rise and road congestion worsening. In addition, in many commercial office hubs a government imposed car parking levy is paidon top of the price of an annual car parking charge. Is this sustainable?

How can we realistically reduce car parking demand? The latest buzz word for landlord is "end of trip facilities". If you don't already know what these are they include bike rack parking, showers for staff travelling by push bike to work and locker rooms. Many property owners are incorporating new end of trip facilities into their car parking basement areas in an attempt to secure new tenants to their property and inadvertently reduce road congestion. With car parking charges in areas such as North Ryde and Macquarie Park ranging from$1800 per space per annum to $3000 per space per annum will rising prices eventually reduce tenant demand and surrounding traffic hot spots?

Will Macquarie Park be the next commercial precinct to impose a government car parking levy?

Ring the leasing experts to find out.. 02 9739 9788


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