Tesco and Morrisons are set to rent out hundreds of parking spaces to non-customers via a new partnership with the YourParkingSpace app.
Morrisons will set aside parking spaces at 446 locations with sufficiently spacious carparks, while Tesco will set aside spaces at 98 store, all of which will be immediately available for anyone to reserve and rent out.
YourParkingSpace, which counts Morrisons’ chairman Andrew Higginson as its own chairman, is a platform which partners with businesses and private landowners across the country allowing them to rent their unused parking spaces to the public.
According to the startup’s co-founder and chief executive Harrison Woods retailers are poised to make £24.5 million from renting out their parking spaces through the app this year.
“Outside of the stores, retailers’ largest asset is their car parks, which most of the year are under-utilised,” Higginson said.
“YourParkingSpace’s technology, audience and clever data analytics offer retailers the ability to monetise these unused assets whilst still protecting parking for their core customers, allowing them abundant spaces to park for free.”
The app has already partnered with Sainsbury’s and Co-op offering spaces at a combined 284 locations, while offering spaces at shopping centres across the UK.
In future the app plans to partner with these supermarkets to send personalised promotions to non-customers renting out their parking spaces.