Parkd’s construction of a 190-bay relocatable car park for Mazda Bayswater has been parked for the foreseeable future, after the dealership said it would reassess the timing of the expansion.
Singaporean-based Eurokars, which owns the dealership, said it intended to conclude the contract upon completion of stage 1 design services.
Construction was set to start on the $2 million development in the June quarter of this financial year.
Eurokars group director Shaun Domoney said the company was forced to reassess the timing of the planned expansion of the dealership due to “challenging branding and planning conditions” at the site.
“We have been extremely pleased with Parkd’s solutions and design performance on this project and hope to see the existing barriers removed to recommence construction at some future stage,” he said.
Parkd managing director Peter McUtchen said Eurokars has been a supportive client and it was disappointing that factors outside of its control impacted on the progress of the contract.
“With Eurokars planned expansion in our national market, along with their extraordinary presence in the Asia region, we look forward to a continuing relationship with the group,” he said.
In October, Parkd signed a contract with Bayswater Mazda for the three-storey car park.
It was set to be the Claremont-based company’s second relocatable car park sale, after it sold a 49-bay single-tier facility to City Subaru Perth in March for $690,000.
The car park was prefabricated and then assembled on site.
Parkd's shares are currently in a trading halt, and were last traded at 10 cents each, half of what it listed for in December 2017.
