Q-Park expands in Manchester with Piccadilly Place takeover

European parking operator Q-Park UK has signed a deal to take over the parking facility at Piccadilly Place in Manchester.

The company agreed a 35-year lease with the owners of the development, Property Alliance Group and Ares Management, for 302 new parking spaces and the management of the remaining spaces.

The car park serves both Three and Four Piccadilly Place, which together comprise 300,000 sq ft of offices and retail space.

Current tenants of the site include law firm Weightmans, bank Barclays, design consultancy Arcadis UK and the NHS.

Alliance MD Alex Russell said: “This area is continually transforming and attracting more interest, so we are pleased to have signed up Q-Park who are experts in delivering safe and secure parking services.”

Alliance acquired Piccadilly Place in 2016 for £106m in a joint venture with Ares Management.

Alex continued: “Since purchasing Three and Four Piccadilly Place, we have worked closely with the Q-Park team to reach an agreement which not only works financially, but complements the scheme’s offer of high quality.

“This deal is the first of several developments at Piccadilly Place, including our exciting plans for the piazza, which we will be announcing in due course.”

Q-Park UK managing director Adam Bidder commented: “We are delighted about the takeover of Piccadilly Place.

“We are actively looking to expand our portfolio especially within Manchester which continues to perform well. As a result, Piccadilly Place was a natural location for us to invest in.”

He added: “This facility is an excellent addition to the Manchester cluster, increasing our market share in the city and providing a good spread of car parks around the city. We are also keen to up-grade the facility by installing the latest parking equipment and fresh signage in due course to improve the customer experience.”

Property consultancy WHR represented Q-Park in the deal. Alliance acted for itself.

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