Car Park
Car Park Operations and Facilities Management
FEC operates its car park business through Care Park, its subsidiary. Care Park owns and/or manages car parks in Australia, New Zealand, the United Kingdom, Hungary, and Malaysia. As at 31 March 2022, it has a portfolio of 424 car parks and 120,201 car parking bays, including 28 self-owned car parks and 396 managed car parks.
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424Car Parks
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120,201Bays
In Australia and New Zealand, the business is managed by Care Park. Care Park adopts an ownership and third party car park management model, which provides a strong recurring income base and delivers a steady cash flow. Combining its experience as a car park owner and manager with FEC’s property development expertise, Care Park has recently expanded the scope of its management services and geographic scale.
Growth areas include facility management in addition to retail and commercial services, which will benefit from FEC’s extensive experience in the property sector. The Company’s third-party car park management services now include municipalities, hospitals, airports and malls.
To maintain its leadership position, the Group will continue to build the Care Park brand, expand its management operations, and make strategic acquisitions that enhance its portfolio.
Care Park Website: www.carepark.com.au
