Macquarie snaps up Auckland carpark concession for NZ$220m

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Australian Macquarie Group has acquired a long-term license to operate the 3,200-space carpark of SkyCity’s Auckland casino complex in New Zealand for NZ$220m (US$148.4m).

Macquarie Principal Finance purchased the concession from listed casino group SkyCity and will run the carpark until 2048, the seller said in an announcement.

Carpark operator Care Park, which manages more than 300 sites globally, will run the carpark on behalf of Macquarie.

SkyCity Auckland (image: SkyCity)

The sale is part of SkyCity’s strategy to divest selected properties and non-core assets and recycle capital into higher-returning investments and pay down debt.

“Care Park is a respected, quality international provider of car parking, and the company’s involvement will enhance the customer experience, which will be aided by aided by Skycity’s experienced car parking management staff, who are expected to join the Macquarie/Care Park team,” said SkyCity chief executive Graeme Stephens.