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PARKD Ltd

Parkd adds Mazda dealer to carpark client list with $2 million contract

A Mazda dealer in Perth is taking a leaf out of Subaru’s book, commissioning a transportable carpark.

Signing a contract
Parkd signalled the deal fully transformed the company to 'commercial operations'

Parkd Ltd (ASX:PKD) has secured another transportable carPark win in Western Australia, signing a contract to build a carPark for the Bayswater Mazda caryard near Perth Airport.

The Australian-listed company said the three-storey carPark contract was worth $2 million, with the structure to include about 190 bays.

READ: Parkd to design first transportable carPark for CBD

Payments would be staged with the first $150,000 sum to be for construction while the remaining $1.85 million would be paid for construction of the Guildford Road carPark.

Construction work is tipped to start in the June 2019 financial quarter, with design and documentation work to begin immediately.

 

 

Parkd managing director Peter McUtchen said: “With the significant levels of enquiry from the automotive retail sector we are very pleased to announce the signing of this contract.

Bayswater Mazda dealer principal Peter Merks said “We are very excited for this opportunity to further grow Bayswater Mazda with the assistance of Parkd.

“The innovation and expertise behind Parkd is a true demonstration of the future of smart building and we are delighted to be part of a revolutionary project.”

READ: Parkd lays foundation for the rollout of transportable carparks

The Mazda dealership is owned by the largest privately-owned car distribution group in Singapore, Eurokars Group, which is owned by the group’s executive chairman Karsono Kwee.

Parkd’s leader McUtchen focused on the potential for the parties to expand upon their relationship.

McUtchen said: “Eurokars have a clear vision of the unique opportunities the Parkd carpark system can offer their dealership.

“This project also presents further opportunity for Parkd to broaden its relationships with Eurokars in the Southeast Asia region.”

Parkd signalled the Mazda deal had fully transformed it into a commercial operation “focused on converting the strong pipeline of enquiry and proposed contracts.”

Car dealers are one of Parkd’s key market segments for its transportable carparks.

READ: Parkd turns to shareholders ahead of carpark milestone

Eurokars has Porsche, Roll-Royce, Maserati, MINI, BMW, McLaren and Mazda dealerships in Singapore, China, Indonesia and Australia.

The group also holds regional distribution rights for 3M in Indonesia.

Parkd’s modular carparks can take in six storeys, including a ground level, being prefabricated off-site to reduce the down-time for a business commissioning a new carpark.

The company last month signed a contract to provide design services to Vector Management for a $9 million, 389-bay multi-storey carpark in Perth’s central business district.

Parkd built a carpark for City Subaru across the Swan River from Perth’s CBD in Victoria Park in the September quarter, another milestone event for the company.

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