Torrox underground car park in financial difficulty

The first underground car park in Torrox has been an underwhelming success and the concessionaires, UTE Almedia, are unable to balance their books.

The car park required an investment of €8 million and has been operating for two years, but low occupancy rates have meant that UTE Almedina is seeking help from the Council.

The company is asking for €700,000 or an extension to the concession period from forty to sixty years. The Council is discussing the matter but no decision has yet been made. According to the Council, it is the financial crisis which is affecting occupancy rates in underground parking facilities.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: