Property group could net up to £20.7m from potential sale

Town Centre Securities (TCS) has confirmed that YourParkingSpace Limited, in which it holds a minority stake, is in the process of being sold.

The Leeds-headquartered property group has today responded to a press report about the sale of YPS, which is an online parking platform set up by a pair of entrepreneurs in 2013.

The group states: “Whilst certain details in the press article are inaccurate, the Board can confirm that YPS is in advanced stages of a sale to Flowbird, which if successfully completed, will result in TCS receiving total cash consideration of up to £20.7m for its equity investment.

“There can be no certainty that a transaction will take place. The company will provide a further announcement as soon as possible.”

Flowbird is a smart mobility business which offers parking and electric vehicle charging solutions. It operates in 80 countries and more than 4,300 cities.