Kensington – York House

A private landlord owned the freeholds of a tennis court and an adjoining mansion block in a prestigious area of Kensington where parking spaces are at a premium. We approached the landowner with a proposal to develop a 2 level 86 space private car park for local residents beneath the tennis court.

Planning permission was obtained with the assistance of a specialist planning consultant. We carried out a market study to confirm the commercial viability of the project, then put together a project team and negotiated a contract of works with a major construction company. The marketing strategy, along with the structure of the legal documentation was defined by Parking Matters. The project was finished on time and on budget.

Results
The York House Private Car Park is the first boutique car park in London. The majority of spaces were sold to local residents on 99 year leases for a premium of up to £127,000 + VAT per space, generating significant profit and revenue for our client. Parking Matters has an ongoing role, advising the client on the operation and maintenance of the car park.

John Law – Owner of the York House Private Car Park
“Without Nigel this project would never have happened. I was a bit sceptical when the idea was first proposed. The development process was long and complex but I am very pleased with the results.”