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Parkd receives $690,000 from City Subaru Perth for first relocatable car park in Australia

The car park offers City Subaru the ability to relocate or reuse the structure and represents the first purpose-built, relocatable concrete car park in Australia.

Parkd systems are modular, cutting down on build time on-site

ParkD Ltd (ASX:PKD) has received $690,000 after City Subaru Perth exercised its option to purchase the car Park built by Parkd in August last year.

City Subaru decided to purchase the car park due to several transformational outcomes demonstrated in the trial period.

These include an increase in cars being sold and serviced and higher levels of customer satisfaction through increased parking availability.


Parkd managing director Peter McUtchen said: “It is great to see City Subaru realise new potential in their business through the construction of the PARKD Car Park System.

“We look forward to exploring and progressing opportunities on further sites around WA and Victoria.”

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

The swift build time of Parkd’s system has the potential to help companies who have delayed building a multilevel carpark at their sites rein in the loss of income experienced during construction time.

McUtchen told Proactive the company had received a phenomenal number of enquiries about its system, from each of its target markets, such as the automotive dealerships that are its initial focus, transport departments, local governments, airport operators and shopping centre groups.

He said that the carparks held appeal for business operators who viewed the six-to-eight months build time of traditional carpark as “unpalatable” down-time.

Parkd’s moveable system can be used for a variety of industries, with the company planning to target residential sectors with its commercialisation strategy.

READ: Parkd to design first transportable carpark for CBD

City Subaru Dealer Principle John Nossiter said: “The construction of the car park was a godsend for our business and has given us the ability to deliver the best customer experience in Perth for Subaru.

“From the start of the design process, PARKD has demonstrated their expertise both in designing, development approvals and most importantly delivering the construction of the carpark with minimal disruption to my dealership.”

Quick facts: PARKD Ltd

Price: 0.032 AUD

Market: ASX
Market Cap: $2.4 m

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