03/08/2010 VHA CONSOLIDATION ABSORBS NORTH SHORE CAR PARKING SPACES
m² Office Leasing has facilitated a ten year car park deal for over 200 car spaces for Vodafone Hutchison Australia. The 200 Wilson Parking car spaces, which are located across the Lower North Shore, will provide essential parking for many of the company’s managers and employees.
VHA is the result of a merger between Vodafone (formerly located in Chatswood) and Hutchison Telecommunications, (formerly located in St Leonards). The staff have been brought together in one North Sydney CBD location, 40 Mount Street.
m² Office Leasing Director, Kymbal Dunne said “North Sydney’s car parking code allows just one car space per 400m². VHA has taken an enormous 11,700m² of office space to accommodate their staff but despite this, with the code in place, they were only allocated parking for 30 cars. The company found it difficult to rationalise the number of spaces needed, so an alternative solution was essential.”
Having worked with m² Office Leasing to secure the lease agreement at 40 Mount Street, VHA turned to them again to help resolve their parking problem.
Kymbal said, “200 car spaces is a big ask in itself, but there were several other criteria that made it even more challenging. VHA staff were used to working above their car parks and so naturally, were after parking that was as close as possible to their new premises.
“Car parking operators seldom enter into parking arrangements for more than one month – their own building leases don’t usually run for more than five years – yet VHA wanted to secure parking for the duration of their 10 year lease at 40 Mount Street.”
“VHA also specified that they wanted to build fixed increases into the deal to protect them against significant market rises in the future. Car park owners perceive this type of arrangements as a risk. Demand for car parking can often be the first indicator of an upward trend in the economy. So while parking may be soft at the moment, car park owners can see a time when demand will start to rise and they will be able to increase their parking rates accordingly.”
Despite these significant hurdles, Kymbal identified Wilson Parking as the most likely parking operator.
“Wilson Parking put forward a very good working solution,” said Kymbal.
Peter Witts, State Manager-NSW of Wilson Parking commented: “We enjoy working with our clients at all levels to tailor innovative service-driven solutions to their needs. We have been able to accommodate VHA’s needs for permanent parking and have also provided benefits to other staff that need parking on a casual or adhoc basis.”
VHA was impressed with Wilson’s responsiveness and professional approach – and of course with the final deal struck!
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