Dublin airport operator DAA's proposed acquisition of the nearby site of the former QuickPark car park is to undergo an in-depth investigation by the competition regulator.
The Competition and Consumer Protection Commission (CCPC) said it had extended the probe following a preliminary investigation because it had decided more work was needed to establish whether the proposed transaction will or will not result in a substantial lessening of competition.
The planned purchase of the site, which is made up of 42 acres of land and was previously run as a 6,122 space car park, was notified to the CCPC in March.
The site is currently owned by property developer Gerry Gannon, whose debts are controlled by Nama.
Located on the Swords Road in Santry, the car park was run for many years by John O’Sullivan’s QuickPark through a firm called ParkFly.
The property then became the subject of a legal dispute between Mr Gannon and Parkfly, as well as another company controlled by Mr O’Sullivan.
The car park closed in 2019 but came on the market last year with a guide price of €70m.
The airport operator was made preferred bidder last autumn, although DAA has not said what it is proposing to pay for the carpark.
The closure of the QuickPark facility in 2019 has put pressure on the availability of parking at the airport, where DAA already runs a number of car parks.
Earlier in the summer, Dublin Airport was forced to warn passengers that parking would be limited at certain periods as all its car park spaces had sold out.
DAA had offered to rent the property on a short-term basis pending the regulator’s decision, but it is understood that the vendor was not interested in taking up this offer.
"As with all notified mergers and acquisitions, the CCPC is working to complete its investigation in a timely manner and within the statutory deadlines," the CCPC said.
"Whilst the proposed transaction cannot be implemented until a determination is made, the CCPC’s merger review process has not prevented either party from operating a carparking business."
The CCPC added that it has already received a number of third-party submissions on the deal and it will continue to accept them until August 30th.
Noting the CCPC's decision to move to a Phase 2 investigation, DAA said it would study the
It said demand for parking at Dublin Airport remains very high, with limited spaces available.
"Our advice to those who can’t avail of sustainable public transport options to Dublin Airport (Ireland’s busiest bus terminal) or get a taxi or be dropped to the airport by a friend or relative is to book parking ASAP," it said.
"If dates are sold out, passengers should consider an alternative way of travelling to the airport now."
