You’re working in Facilities and have been at loggerheads with Finance for months. Budgets are tight. HR is rolling out return-to-office policies. And the headcount is growing. Finding space while cutting costs feels impossible, right?

We’ve all heard of Work Travel Plans (WTPs). Maybe introduced by HR as part of an ESG initiative or a well-meaning employee benefits package, but in many workplaces, they’ve collected dust.

But what if these “nice-to-have” programs could help solve your biggest space, financial, and operational challenges?

How Much Can WTPs Really Save?

Research from the UK Department for Transport shows that Work Travel Plans can reduce solo driving by up to 15% (DfT, Making Travel Plans Work). In a 500-person workplace, that’s around 75 fewer cars, and parking spaces, required.

This seemingly small reduction has major implications.

Build Capital, & Maintenance Savings

Based on average structured parking construction costs of ~$29,900 per space (WGI Parking Structure Cost Outlook 2024) in the USA, removing 75 spaces adds up quickly. When reviewed across regions this can present some impressive retained and saved capital.

• USA: Up to $6.75 million
• Australia: Around A$9 million
• UK: Close to £2.85 million

These savings include both initial construction and 30-year maintenance costs—estimated globally at $500–$1,000 per space annually, depending on region (Victoria Transport Institute, Innovative Engineering Inc.).

And in denser or more complex projects, costs are often far higher. In Australia, the Coomera Hospital’s parking build exceeded A$90,000 per space (Courier Mail). ULI and ITE data also show structured parking in urban or underground environments can reach $75,000 per space.

More Than Cost Saved. Opportunity Reclaimed

These aren’t just budget savings. They’re capital and land opportunities. Several of our clients have:

• Reallocated parking land for new building footprints
• Supported headcount growth without relocation
• Avoided costly car park expansions
• Gained flexibility to meet evolving workplace demand

In markets like the US and UK, each parking space takes up ~300 square feet (ITE Parking Generation, ULI Shared Parking Guides). That’s 22,500 square feet of space from a 15% reduction in one site—enough for an entirely new office wing or high-value leaseable area.

30-Year Net Present Value (NPV): Parking Reduction

Even when factoring in a 5% discount rate over 30 years (a standard for real estate and capital planning), the NPV of reducing parking is remarkably strong:

• USA: $3.46 million
• Australia: A$4.61 million
• UK: £1.46 million

This isn’t hypothetical. It’s quantifiable, long-term value that is often hidden in facilities budgets. Finance teams often scrutinize large infrastructure projects with NPV modelling. If you’re trying to secure funding or shift capital priorities, this is a compelling case.

What If You’re Not Building New Parking?

Even if you’re not planning new builds, reducing existing parking stock still has financial benefits.

Maintenance costs for parking are ongoing and wide-ranging: resurfacing, lighting, line marking, cleaning, landscaping, security systems, and snow removal (in colder climates).

Using regional averages of:

• $750/space/year (USA)
• A$1,000/space/year (Australia)
• £500/space/year (UK)

The annual maintenance savings for just 75 fewer spaces stack up fast:

• USA: $56,250/year
• Australia: A$75,000/year
• UK: £37,500/year

30-year NPVs for those savings (again at 5% discounting):

• USA: $864,700
• Australia: A$1.15 million
• UK: £576,467

Leverage Freed Land for Revenue

The value doesn’t stop with cost reduction. Reclaiming space opens up the potential for new revenue streams.

Across global commercial hubs, average lease rates per square foot/year are:

• USA: ~$35/sq ft (CBRE, Statista, Cushman & Wakefield)
• UK (London): ~£60/sq ft (Savills, Knight Frank)
• Australia: ~A$37/sq ft (A$400/m², JLL & Knight Frank)

That same 22,500 sq ft from 75 parking spaces could generate $787,500/year in the US, £1.35 million/year in the UK, or A$832,500/year in Australia—just by leasing the land instead of parking cars.

It’s a compelling case to reallocate land toward income-generating, high-value space, especially when demand for physical office is shifting and consolidating.

ESG + ROI = Smart Strategy

Reducing parking demand isn’t just good for emissions and sustainability, it’s also good for your bottom line.

• Supports carbon reduction targets
• Helps meet ESG reporting requirements
• Reduces land consumption and urban sprawl
• Enhances green building certifications
• Reduces long-term capital and maintenance costs
• Enables future flexibility

These environmental and economic gains can also be used to support funding proposals, align with investor mandates, or secure sustainability-linked loans.

It Might Be Time to Dust Off Your WTP

If your Work Travel Plan has been sitting on a shelf or buried in the HR archive, now’s the time to revisit and reintegrate it into your workplace strategy.

WTPs don’t just cut carbon, they can:

• Reduce costs without layoffs
• Improve employee experience
• Postpone or eliminate costly expansions
• Boost space utilization
• Help Finance and Facilities finally get on the same page

In a time where real estate pressure, environmental expectations, and financial scrutiny all coexist, a simple 15% shift in how people commute can help solve three problems at once: cost, capacity, and carbon.