Dunedin residents can rejoice this festive season with more premium parking options following the opening of a new parking building in Great King Street.

The new parking facility is ideally located in the centre of town and is just what Otepoti Dunedin shoppers need in time for Christmas.

Located on the corner of Moray Place and Great King Street in the newly developed Mataukareao building (next to the Farmers building), it features 30 new public parks. It is open every day from 6am to 8pm and costs $5 for the first hour, and $6 for every hour after that.

It has been open for a few weeks with some uptake in usage, and the Dunedin City Council (DCC) hopes visitors to the city centre continue to take up the opportunity to park in the premium location and support local businesses this holiday season.

With the summer holiday period on its way, and Christmas soon around the corner, the new building will provide locals plenty of new parking options.

The parking space in the Mataukareao building is a positive addition to the DCC's other centralised parking spaces in Great King Street, Filleul Street, Frederick Street, St Andrew Street, the Railway Station, lower Moray Place and at the Dunedin City Library and Wall Street Mall.

The six-storey building - Mataukareao - was developed by Hapai Commercial Property alongside Te Runanga o Otakou, with the new parking spaces in the lower levels taken over and managed by the DCC.