Subaru buys Parkd's first relocatable car park

Claremont-based Parkd has sold its first relocatable car park to City Subaru Perth, which the dealership leased for the past six months following completion of the project in August.

The Victoria Park-based dealership paid $690,000 for the 49-bay single-tier facility, which was prefabricated and then assembled on site.

The car park was installed in 13 days of crane operation, which Parkd said was around half the time it takes for a comparable sized car park to be built using traditional concrete methods.

Parkd managing director Peter McUtchen said City Subaru had realised new potential in their business through the construction of the car park system.

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

City Subaru dealer principle John Nossiter said the construction of the car park was a timely addition to the business.

“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,” Mr Nossiter said.

In October, Parkd signed a $2 million contract with Bayswater Mazda for a three-storey, 190-bay relocatable car park.

Construction for the company's second car park is set start to start in the June 2019 financial quarter.

Shares in Parkd were up 20 per cent to trade at 18 cents each at 11am AEDT.