SPZ 5.93% 55.5¢ smart parking limited

highett, blister, I think the legislation is targeted at PRIVATE...

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  1. 1,829 Posts.
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    highett, blister, I think the legislation is targeted at PRIVATE Car Parks, and has nothing to do with Councils. For example, think of your local Westfield or Stockland shopping Centres.

    There are numerous Private Car Park operators around in the UK and by all accounts they are not flavour of the month. It is politically expedient to come down hard on them. SPZ revenue from Technology sales is a very small part of their overall revenue, from memory about 75% of revenue is from Parking Breach Notices.

    (Note, a Breach notice it is not strictly a fine, as no law is broken, but a breach of condition of entry into the privately owned park. Some companies charge a few hundred pounds for staying 1 minute over the limit).

    I am not trying to bag the company, I think they will probably do well going forward and are probably more ethical than most of the others. I'm just highlighting a risk which no-one else seems to be focused on.
 
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