Parkd Ltd (ASX:PKD) has extended its reach to Perth’s central business district after signing a contract to provide transportable carPark design services to Vector Management for a $9 million multi-storey carpark that would feature 389 bays.
The Perth-based company recently built its first transportable for Perth’s City Subaru across the Swan River from Perth’s CBD in Victoria Park.
Claremont-based Parkd views the design contract as another milestone for the company after it completed the Subaru carpark ahead of schedule last month.
Parkd managing director Peter McUtchen said today: “We are very excited to commence works with Vector Management who are planning, as a syndicate, to use our expertise and the Parkd Car Park System, to exercise underutilised inner-city property.
“It is great to see the property sector recognise the unique opportunities presented by our system that is extremely quick to construct and can be relocated in the future.”
The company will be paid a design fee, with the estimated value of project being $9 million if it goes ahead.
Parkd reported: “The Perth inner city car park is planned to operate for an extended period of time before a potential real estate development is constructed, illustrating how the company’s technology can provide revenue streams from vacant sites and increase parking capacity within inner city locations across Australia.”
Vector hopes to lead a syndicate for developers hoping to use Parkd’s systems on dormant properties to maximise revenue and open up revenues for the group and leaseholders of commercial land.