PARKD brings prefabrication to multi-level car parks

Modular relocatable carpark manufacturer, PARKD is bringing a new level of prefabrication to the construction of multi-level car parks.

The company’s modular design allows car parks up to six levels to be fabricated offsite and assembled to increase parking at shopping centres, airports and commercial sites.

The listed Western Australian company released its results for Q3 FY24 which revealed it won a $4.3 million contract to construct an automotive retail project and signed an agreement with BlueScope Steel subsidiary, Fielders Steel Roofing for licensing and IP of PARKD’s Metal Deck Support System (MDSS) in Australia for 12 months.

The PARKD Car Park System has only three primary elements which are pre-fabricated off-site, are reusable and relocatable, and can be expanded or extended depending on demand.

PARKD Managing Director Peter McUtchen said: “The past quarter marked a significant milestone for PARKD as we advanced our relationship with Fielders, signing binding license terms and securing the intellectual property rights of our innovative system.

“It is pleasing to see continued growth over the quarter as we notice more companies who share the vision of creating more efficient and safer construction processes.

“Our partnerships with John Hughes Automotive Group and Quattro Automotive continue to progress well (and) we continue to provide technical advisory services to new and existing clients.”

Developments in the quarter included:

• The commencement of stage two construction for automotive retailer, John Hughes Group, for a multi-level car storage facility in Perth
• Construction progressing on track for works on Quattro Automotive on a three-storey Audi dealership in Perth with scheduled completion in December 2024
• And provision of ongoing technical advisory for the design and construction of modular car parks for South Metropolitan Health Service and Sydney Airport Corporation.

The agreement with BlueScope came after Fielders completed due diligence and entails fixed supply costs and royalties for the use of MDSS, subject to Proof-of-Concept across two projects over a 12-month period.

“The terms are significant for promoting innovation in the construction industry and streamlining the construction process while lowering costs and risks.

“The agreement is contingent upon successful negotiation of a formal License Agreement and performance assessment during the 12-month period.”

McUtchen said the construction industry continues to evolve as demand for more environmentally friendly and safer construction practices grows.

He said: “PARKD is well-positioned to meet this demand by offering industry-leading, efficient and cost-effective solutions that align with modern construction trends.

“We have a strong pipeline of construction and advisory services that set us up well for the remainder of FY24 and beyond.”

Picture: PARKD