A council is losing more than a quarter of a million pounds a year due to multiple floors within a car park being closed.
North Somerset Council pays Carlton Street Car Park to the tune of £500,000 each year in rent, in a deal running until 2058, according to council documents.
While the car park is meant to have 350 spaces, the council reports a "£269,000 shortfall" in the last financial year due to every floor except ground being closed since the end of 2023.
Documents reference building issues, including three lifts which "have had reliability issues".
"The three lifts have failed and are beyond economic repair (or are) at the end of their service life," the documents state.
"To reopen, the lifts require full major refurbishment and/or replacement."
The council notes moisture is "getting into the lift shafts".
Documents also highlight toxic substances, which could damage cars, as the reasons for the closed floors.
Carlton Street Car Park is only accessible on the ground level
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North Somerset Council owns the freehold of the land the car park is built on and entered into the 45-year leaseback arrangement in 2012.
An initial annual rent was £433,000.
But, as of last year, the council is paying "in excess of £500,000 a year", even with the vacant floors.
The council indicates in documents that there are four options it could adopt.
Three lifts are deemed unusuable
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It comes after quotes had been obtained "for external consultants" and a process was underway to appoint a consultant.
The first option includes permanently closing the upper floors and "operating as a ground floor car park only", which would provide only 103 spaces. Some structural works would be required.
The second option would see the council reopen "all floors" but with reduced capacity.
However, it would require refurbishment works, including the lifts.
The council forecasts this to provide 283 spaces.
The third option would be for the council to close the car park altogether.
Whereas option four would see the council demolish the existing car park and rebuild it on the same site.
This would provide a new multi-storey car park and an estimated 380 spaces.
In reviewing the options, North Somerset Council is considering "potential for additional income generation" from the car park with non-parking services.
It also indicated that it would see whether there could be "fire-protected storage for electric bicycle parking for staff".
The council has received quotations "from suitably experienced and qualified consultants".
A consultant is anticipated to be appointed this month, and a report is due back in late August.