Leading companies in the car park management sector, including iPark, have submitted their bids for the tender to manage the car parks of 55 passenger stations belonging to Adif and Adif Alta Velocidad.
This contract, with an initial duration of ten years and the possibility of being extended for five more years, has an estimated value of 246.3 million euros, with expected annual revenues for the successful bidder exceeding 40 million euros, making it one of the largest contracts for the operation of car parks in Spain.
Saba, which has been the main operator of these car parks since 2013, controlled by Criteria, the industrial arm of La Caixa, now faces strong competition for the contract renewal from several of the biggest players in the sector in Spain, including iPark.
This contract, with an initial duration of ten years and the possibility of being extended for five more years, has an estimated value of 246.3 million euros, with expected annual revenues for the successful bidder exceeding 40 million euros, making it one of the largest contracts for the operation of car parks in Spain.
Saba, which has been the main operator of these car parks since 2013, controlled by Criteria, the industrial arm of La Caixa, now faces strong competition for the contract renewal from several of the biggest players in the sector in Spain, including iPark.
iPark competes for the management of car parks at Adif stations.
The bids, which were submitted on February 23, apply for a contract covering a total of 55 passenger stations, with a total of more than 22,000 parking spaces.
Furthermore, the future incorporation of six new stations is foreseen, including Zamora, Cáceres, Plasencia, Figueres, Huelva, and Virgen del Rocío (Seville). During the term of the contract, car parks currently under project or construction could also be added.
Furthermore, the future incorporation of six new stations is foreseen, including Zamora, Cáceres, Plasencia, Figueres, Huelva, and Virgen del Rocío (Seville). During the term of the contract, car parks currently under project or construction could also be added.
The company selected for this service must carry out an investment plan with a minimum value of 36.3 million euros, half of which must be invested in the first 18 months of the contract. Additionally, the successful bidder will pay 35 million euros, non-bid-upwards, upon signing the contract as an initial fee (canon).
Contract based on management:
The contract is based on the management and maintenance of the car parks; in addition, the successful bidder will also be responsible for the control, collection, and cleaning of the spaces and facilities.
The rent model established in the tender implies a participation of Adif and Adif Alta Velocidad in the business results, ensuring a balance in the distribution of income between the lessor and the lessee. The fixed rent for the successful bidder is estimated at 42.3 million euros over the life of the contract, with an additional payment in case of extension.
The contract is based on the management and maintenance of the car parks; in addition, the successful bidder will also be responsible for the control, collection, and cleaning of the spaces and facilities.
The rent model established in the tender implies a participation of Adif and Adif Alta Velocidad in the business results, ensuring a balance in the distribution of income between the lessor and the lessee. The fixed rent for the successful bidder is estimated at 42.3 million euros over the life of the contract, with an additional payment in case of extension.
The selected company must also pay a variable rent, equivalent to a minimum percentage of 25% of its income in the first year, bid-upwards by each bidder, with a gradual annual increase. In total, the minimum guaranteed rent during the ten years of the contract's term is estimated to amount to 106.5 million euros, with an increase in case of extension.
