Introduction
The Multi-storey car park is one of the businesses that are still virgin in the country. A building of six levels accommodating approximately 80 spaces each on a site of approximately 0.5 acres located in one of the busy areas of the city centre would give the proposed park a wide catchment area. The park is planned to accommodate 500 vehicles with an occupancy rate of 80% per day. In its basic form the proposed car park building should be rectangular, with the footprint fully occupying the available site with two access ramps. The construction works to completion will take up to 12 months at a cost of US $2,280,000. On completion of construction the car park is estimated to generate a profit margin of 26% per annum and a payback period of 3 years 3 month.
Design considerations
The design shall include both architectural and structural plans. The proposed Car-park architectural design will consider the customer carefully and provide a system that is simple and safe. It must however, be compatible with the locality and follow the guidelines established by the Local Planning Authority in terms of appearance and scale. These principles of use and planning tend to control the size of the car park, circulation facilities, and geometric design requirements. Parking yards, stairs and ramps are the major features in the design and the design must have all stairs rise to the full height of the building, giving access/exit to all levels including the roof.
Interior ramps are most commonly used. Parking structures are subjected to the heavy and shifting loads of moving vehicles, and must bear the associated physical stresses. It is therefore imperative that expansion joints are used between sections not only for thermal expansion but to accommodate the flexing of the structure’s sections due to vehicle traffic. Construction Process The site shall be cleared and leveled and left to settle ready for Construction will be started just like any other storey building taking into consideration the pressure it is bound to hold. It is proposed that frameless„ structural‟ glazing is used to the outer walls of the stair towers allowing daylight to flood in and clear views out. The solid walls and roof elements of the stairs are finished in smooth white render, enhancing the simple, clean lines.
Capital Investments Requirements
| Capital investment item | units | Qty | @ in US $ | Total |
| Land (0.5 Acres) | No. | 1 | 600,000 | 600,000 |
| Site Development( Excavation $ filling) | 1 | 400,000 | 400,000 | |
| Construction of 6 Storey Parking Block | 1 | 1,600,000 | 1,600,000 | |
| Site Management | 1 | 40,000 | 40,000 | |
| Office Equipment | No | 1 | 25,000 | 25,000 |
| Computer Equipment | 1 | 10,000 | 10,000 | |
| Motor Vehicle | No | 1 | 20,000 | 20,000 |
| Breakdown Towing and Emergency Repairs | 2 | 60,000 | 120,000 | |
| Preliminary Expenses | No | 1 | 50,000 | 50,000 |
| Total | 2,805,000 | 2,865,000 |
Production and Operating Costs
| Operational costs Per Year | ||
| Per/month | Per Year | |
| Staff Salaries | 3,200 | 38,400 |
| Other Staff Costs | 4,690 | 56,280 |
| Motor vehicle operations and maintenance | 300 | 3,600 |
| Office Supplies | 500 | 6,000 |
| Utilities (Water, Electricity & Telephones) | 300 | 3,600 |
| Public Relations | 60 | 3,600 |
| Building Insurance | 833 | 10,000 |
| Depreciation Expenses | – | – |
| Total Operating Costs | 9,883 | 121,480 |
The service is assumed to be provided for 312 days per year. Depreciation assumes Buildings at 2%, MV at 20%, computers 10% and Equipments at 12.5%. A production Month is assumed to have 26 work days.
Service Costs and Price Structure in US$
| Item | % of Occupancy | Lots | Lots available Per Day | Lots available Per Yr | UPx | Revenue/ Month | Revenue /Yr |
|---|---|---|---|---|---|---|---|
| Parking Fee Revenue | |||||||
| 2 Hourly Parking Lots | 20% | 4 | 4 | 384.0 | 1 | 384 | 119,808 |
| 2 Hourly Parking Lots | 30% | 2 | 2 | 288.0 | 2 | 432 | 134,784 |
| Day Long Parking | 50% | 1 | 1 | 240.0 | 3 | 600 | 187,200 |
| Item | % of Occupancy | Lots | Lots available Per Day | Lots available Per Yr | UPx | Revenue/ Month | Revenue /Yr |
|---|
| Lots | |||||||
| Overnight Parking Lot | 20% | 1 | 1 | 96.0 | 4 | 384 | 119,808 |
| Sub–Total | 1,800 | 561,600 | |||||
| Revenue from Advertising | No. of Levels | No. Per Level | Total Bill Boards | UPx | Revenue/ Month | Revenue /Yr | |
| Advertising space | 6 | 60.0 | 360.0 | 900 | 27,000 | 324,000 | |
| Revenue from Breakdown Towing & Emergency Repairs | Annual Traffic Handled | % Requiring Emergency | annual No requiring Service | UPx | Revenue/ Month | Revenue /Yr | |
| Breakdown Towing & Emergency Repair Services | 314,496 | 2.5 | 7,862 | 10 | 6,552 | 78,624 | |
| Grand Total | 35,352 | 964,224 |
Profitability Analysis
| Profitability Item | Per day | Per Mnth | Per year |
| Revenue: | |||
| Parking Fee | 69 | 1,800 | 561,600 |
| Advertising Space Fee | 1,038 | 27,000 | 324,000 |
| Towing & Emergency Repairs Fee | 252 | 6,552 | 78,624 |
| Sub–Total | 1,360 | 35,352 | 964,224 |
| Less: Operating Costs | 729 | 18,960 | 230,405 |
| Profit | 630 | 16,392 | 733,819 |
Market Viability: The market demand for parking yard is increasing every year due to the increased number of people purchasing vehicles as it has become a necessity rather than a luxury good. Risks
