Parkd secures $4.3m contract for John Hughes Automotive’s multi-level car storage facility in Perth

Building solutions innovator Parkd (ASX: PKD) has been awarded a $4.3 million stage 2 design and construction contract with John Hughes Automotive Group for a multi-level car storage facility supporting its Volkswagen service centre in the Perth suburb of Victoria Park.

This will be the second project Parkd has delivered for John Hughes and brings the total contract works to be delivered by Parkd in 2024 to approximately $13.8m.

Work is scheduled to commence this month with an estimated completion date of September 2024.

Parkd will provide turnkey construction services including supply, installation, assembly and fitout works.

The go-ahead for the new construction follows the receipt of approvals from the local council after the completion of the $280,000 stage 1 design works and documentation phase of the project.

Prefabricated structural system

For stage 1, Parkd utilised its proprietary prefabricated structural system for commercial application and incorporated its metal deck connection system to improve project safety, productivity and sustainability.

BlueScope Steel subsidiary Fielders Steel Roofing will manufacture and supply the metal deck connection system under a recently-signed agreement that includes demonstrating and optimising the performance of the Parkd connection system.

The stage 2 development will consolidate parking and storage of vehicles at the service centre and will utilise Parkd’s prefabricated solution throughout the build.

Parkd managing director Peter McUtchen said this strategy will reduce construction time and minimise the risk of supply chain material escalation, optimise resource availability and reduce the amount of concrete and subsequent carbon impact by approximately 50% compared to traditional construction.

He noted that the contract award coincides with the commencement of the binding licencing terms with Fielders and plans to complete two projects using the Parkd connection system with the Slimdek 210tm Fielders product.

Proof-of-concept

The agreement signed with Fielders earlier this month has a proof-of-concept period of 12 months from 2 February 2024 during which Parkd will showcase the performance of its product across two projects including an Audi Centre in Myaree, Perth.

Mr McUtchen said the continued relationship with Fielders is aimed at providing developers and contractors with a complete structural system that greatly simplifies the construction process as well as reducing construction costs, high-risk activity, specialised labour and construction materials.

“Our metal deck support system addresses these needs and more through our modular car park solutions that have been designed specifically to reduce cost and the need for high-risk activities on-site, as well as advance the industry into a new era of construction through modular designs.”

A compound annual growth rate of more than 10% to almost $11 billion globally by 2032 is predicted for the large addressable metal deck flooring market.