Feasibility study for the implantation of underground car parks under concession in Vigo

The objective of this study was to determine the technical, financial and economic feasibility for the construction of several underground car parks  devoted to mixed use of residents and passersby in the city.

From an existing analysis that identified deficiency areas, and besides the obvious, such as socioeconomic, land use or use experience and management of existing car parks, a campaign for data collection was organized to determine by street surveys the overall demand for mobility and parking spaces.

Once determined the appropriate location in each area and evaluated the overall cost for each work according to their particularities, we proceeded to the construction of the economic and financial model. The income and revenue models were discussed and compared setting out different scenarios. The conjoint analysis of all shades with different financial structures, resulted in the best possible financing structure for both future concessionaires and Administration interests, in addition to three specific indicators: shareholder IRR, NPV of Project cash flows and return period (payback) of the investment. The study was completed with a risk analysis and conclusions concerning both the feasibility of each operation and the conditions of funding (commercial land use, contributions of the Administration and others).

Client: Ayuntamiento de Vigo.