A Dutch fund has bought four car parks in London for around £60m (E80m).

Bouwfonds Asset Management bought the four car parks, three of which are in Croydon, south east London, with the remaining car park in Central London, for the Bouwfonds European Real Estate Parking Fund at the end of 2007.

£225m plans

The deals bring the total fund value up to just over £100m (E135m), comprising 12 parking facilities in France, Spain and the UK.

The fund is based in Luxembourg.

The fund has also just bought a car park in Belgium, and says that more purchases are in the pipeline. It plans to eventually hold assets worth around £225m(E300m), with the necessary equity in place from institutional investors from the Netherlands and Germany.

Bouwfonds said: ‘Parking facilities form a relatively new category of solid and sustainably real estate investments.’