125 spaces in the parking garage of Harpa concert and conference hall by the East Harbor in Reykjavík will be put up for sale. The City Executive Council approved this at its meeting today.
Reykjavík City owns 125 of 420 spaces in Harpa's parking garage. A working group report on improving financial performance and operations of Reykjavík Parking Service garages includes a proposal for the possible sale of individual parking garages, including parking spaces in Harpa. The 2024 fire insurance assessment for the 125 spaces is 1.158 billion króna. They are expected to be advertised in June.
The operating company Stæði slhf. manages operations of the parking garage in Harpa's basement. The company's board has the right of first refusal on behalf of the company for discounted shares, but if the company declines, shareholders have the right of first refusal proportional to their shareholdings. If parties don't exercise their right of first refusal, the new owner of the spaces will take Reykjavík City's seat in the operating company. According to the 2023 financial statements, Reykjavík City's shareholding is 22.94% while Harpa Concert Hall and Conference Center ohf.'s shareholding is 77.06%.
The matter goes to City Council for final approval.