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This research report investigated the economic and financial benefits from providing expanded park and ride (P&R) facilities. The project objectives were to assist decision-makers by providing guidance on:

• the rationale for investment in P&R, as a cost-effective and efficient means of improving state highway and local arterial road performance and/or reducing public transport subsidies
• methods for the economic and financial appraisal of P&R investments
• the process and necessary conditions for optimal P&R investment decisions to be made.'

The research included a review of international literature and New Zealand practice on quantification, assessment and evaluation methodologies for P&R facilities. The outcome of the research was an economic and financial evaluation framework adopting a cost-benefit analysis methodology.

This framework was tested by applying it to five case studies covering both Auckland and Wellington for potential expansion of existing rail and bus-based P&R sites.

The case studies demonstrated that increasing P&R provision produced high returns relative to most other types of investment schemes that encourage modal shift to PT in major urban areas, with estimated benefit-cost ratios in the range of 2 to 4.

Keywords: appraisal, New Zealand, park and ride (P&R), public transport (PT)