Q-Park, the leading European parking operator has completed the purchase of the Quartermile parking facility in Edinburgh.
Quartermile is the award winning mixed use redevelopment of the 19-acre site of the former Royal Infirmary in Edinburgh’s city centre.
The purchase of the underground car park is another addition to the growing UK portfolio following the Q-Park acquisition by KKR in 2017. Q-Park Quartermile is part of the wider development offering mobility solutions and security to customers and residents of the luxurious residential apartments, Grade A offices, hotels, leisure and retail space all in the one development.
The development is due to expand even further with the University of Edinburgh constructing an interdisciplinary hub including a business school, lecture theatres and a 500 seat amphitheatre within the scheme. Once complete, Quartermile will contain over 1,000 apartments, 30,000 square metres of Grade A office accommodation, 10,000 square metres of retail and leisure space and seven acres of open landscaping.
Adam Bidder, Managing Director of Q-Park, said, ‘This is a great opportunity for Q-Park to gain a long term position in Edinburgh and forms part of our strategic objective to grow the business in key cities. Q-Park completes the Quartermile scheme by providing a high quality parking environment which is easy to access, safe and secure.’
Quartermile Developments Managing Director, Paul Curran, said: “Q-Park is an exemplary car park operator, so we are very pleased that they have now completed the acquisition.
“Quartermile has a global reputation as Edinburgh’s leading commercial and residential location, so it is essential every element of our development reflects the highest standards of design, build and client care.
“Q-Park has proven to be an excellent partner over the years, and we have every confidence they will continue to provide our residents and visitors with an excellent, safe and secure service.”
Q-Park is an international parking company, focused on value development by providing high-quality services in purpose-built parking facilities and off-street parking at strategic locations. Q-Park's activities focus on providing services related to parking at targeted locations: in or near multifunctional inner-city areas, at public transport interchanges and at hospitals. We supply services that fulfil customers’ demands, and their need for convenience, reliability and hospitality.
Q-Park arrived in the UK in 2001 and is now one of the UK’s leading car park companies with 60 car parking facilities housing some 50,000 parking spaces in key locations in the UK with over 15 million visitors every year. (Including Aberdeen, Birmingham, Cardiff, Croydon, Edinburgh, Glasgow, Leeds, Liverpool, London, Manchester, Nottingham, Reading, Sheffield and York.)