A Londonderry-based property company has emerged as one of Britain's biggest car park operators following its purchase of National Car Parks (NCP) out of administration. The Martin Group's acquisition, completed on 8 October 2026, gives the firm control of the majority of NCP's remaining estate and establishes it as a major player in the UK parking sector.
The deal transfers 93 car parks operating under the NCP brand to the Martin Group, along with the staff employed at those locations. According to industry sources, the business employs 276 people across its remaining 145-site operation, with the acquisition covering the majority of those sites.
NCP's financial collapse in March 2026 followed a prolonged period of declining revenue that left the operator unable to service its obligations. When the business entered administration, it operated approximately 340 car parks; 22 sites were subsequently set to close permanently, and others were transferred to alternative operators.
What triggered NCP's failure?
The company faced multiple structural challenges that eroded its financial position. Long-term lease agreements with property owners locked NCP into inflexible cost structures, while the business accumulated substantial debt that became unsustainable. Increased home working patterns, competition from parking applications, and rising operational costs compounded these difficulties, reducing demand for traditional car park services.
How does this protect jobs and creditors?
PwC, the appointed administrators, confirmed that the transaction safeguards hundreds of positions and delivers the optimal financial outcome for creditors owed money by the failed operator. Zelf Hussain, joint administrator and partner at PwC, stated that the arrangement achieved multiple objectives simultaneously.
Keeping NCP's car parks open also helps keep Britain's town and city centres moving. We would like to thank all of NCP's staff and directors for their support and professionalism throughout what has understandably been a period of uncertainty.
The preservation of operational car parks supports the functioning of retail districts and commercial centres across the country, maintaining parking availability for shoppers, workers and visitors.
What is the Martin Group's strategy?
The Londonderry company already operates a substantial commercial property portfolio spanning the United Kingdom. Its existing holdings include the Fishergate Shopping Centre in Preston and the Mercury Shopping Centre in Romford. The group has also expanded its hospitality interests in recent years, developing The Bedford Hotel in Belfast and acquiring The Waterfoot in Derry.
Gary Martin has indicated that the group intends to modernise NCP's operations and invest in its long-term infrastructure, signalling plans to upgrade facilities and enhance the customer experience across the acquired estate. The acquisition price was not disclosed publicly.
Key Facts
- The Martin Group acquired 93 car parks operating under the NCP brand on 8 October 2026
- The transaction covers the majority of NCP's 145-site business and its 276 employees
- NCP entered administration in March 2026 after operating around 340 car parks, with 22 sites subsequently closing permanently
- The acquisition protects hundreds of jobs and delivers the best outcome for creditors owed money by the failed operator
- The Martin Group plans to modernise operations and invest in long-term infrastructure across the acquired sites
