Future of car parking space
Car ownership is likely to decline in the next decade which will lead to a knock-on effect on future demand for parking space.
The bifurcation between resilient and surplus assets – a trend that has already happened in many other commercial real estate sectors – is likely to materialise to car parks too. This means suboptimal assets could be subject to higher risks of decreasing occupancy, and loss of income and value in the medium to long term. Meanwhile, vacant, underutilised car parks can often be the breeding ground that fosters anti-social behaviour, creating a negative halo effect on the local neighbourhood.
Through the application of JLL’s cross-sector expertise and working with our strategic partners, our Car Park Solutions team is uniquely positioned to provide you a comprehensive end-to-end solution.
17,000 acres of underutilised land taking up by surface car parks
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Spotlight on Car Parks: All change?
Car parks were part of the solution for the 20th century. Are they the solution for the 21st?
JLL’s latest Spotlight report, "All Change for Car Parks?" delves into key industry transformations and presents strategic insights from our team and industry professionals.
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Just a car park?Colin Chan, Director, Asset Repositioning at JLL reflects on the future of urban parking and the strategic development opportunity hidden in plain sight