The 267-space multi-storey car park, which is strategically located on Jervis Street close to one of Dublin's busiest shopping thoroughfare, was acquired by Bouwfonds European Real Estate Parking Fund ll; part of Bouwfonds Investment Management (IM).
In a bid to increase its investment portfolio into new territories; and create new synergies, Bouwfonds IM awarded APCOA PARKING Ireland with a long-term leasehold agreement on 7 July 2014 to manage and revolutionise the parking technology at Jervis Street, and improve the customer journey. The deal will see APCOA manage the facility until at least 2029.
Bart Pierik, Managing Director Parking of Bouwfonds IM, said. “We are pleased to have acquired our first parking garage in Ireland. Jervis Street Car Park offers secure and convenient parking in the heart of a prominent retail mixed-use environment in Dublin City Centre. It also presents a low risk, which is important,” he added.
Neil Cunningham, Managing Director for APCOA PARKING Ireland, said: “Jervis Street Car Park presents a great opportunity to demonstrate our European expertise within the Irish parking sector market, by adding Value and introducing new products to improve the overall customer experience.
“Jervis Street is a blank canvass, which makes it both an attractive proposition for Bouwfonds IM, and a great opportunity for APCOA to really showcase our management capabilities. As the leading parking manager across Europe, we are delighted to be working with Bouwfonds IM, and to have the opportunity to utilise our cross-sector knowledge and introduce new parking solutions and service enhancements,” added Cunningham.
In addition to purchasing the Jervis Street car park, Bouwfonds IM has also acquired an office building and three retail units along the same street.
For more information about APCOA PARKING Ireland, please email IrelandPress@apcoa.ie