Parkd says it’ll speed-build its first multi-storey carpark in under a month
Speedy car park builder Parkd says it can pretty much complete a multi-storey parking project in just four weeks as it shows off its disruptive construction technique for the first time.
The building industry disruptor (ASX:PKD) listed on the ASX in December after raising $6 million in an initial public offer.
Its building technology promises to create multi-storey carparks with speed, using a modular building approach that is reusable, relocatable and extendable.
The company says its pre-fabricated concrete model beats traditional carparks, which are tough to break apart once built, and can transform unused spaces like commercial land and car yards into parking areas without long build times.
The appeal of the approach is also that none of the connections in the structure need to be demolished if the structure has to be moved, Parkd managing director Peter McUtchen told Stockhead.
This means the company can pull apart a structure in about the same amount of time as they put it up, and even move it elsewhere.
On Thursday, Parkd confirmed it had started construction on its first significant project, building a car park for a Perth Subaru dealership.
The startup says this will be “substantially complete” in less than four weeks.
Mr McUtchen told Stockhead the four-week window refers to the time its takes the company to build a “compliant car park” with things like crash barriers and signals needed for safety.
Then there’s lighting, painting, signage and other more cosmetic elements a client can request, which would add extra time to builds depending on the individual case.
However, if a car park of the same size was to be build in the traditional way, you’d be “looking at around three months”, McUtchen said.
Parkd has been engaged on an 12 week project contract for this first build, with the site near the Swan River taking some extra time to lay the foundations prior to the build, the company says.
Foundation works are now complete, meaning Parkd can now install its precast concrete and steel columns and its “continuously voided beams” and then add lightweight steel and concrete slabs to build the structure.
Once done it will be the first time the tech has been used to complete a project. The company says it’s all been receiving several enquiries from other dealerships, local councils and developers for future projects.
Parkd is just one building disruptor looking speed up multi-storey builds, with high-rise builder PT Blink having raised $548,000 so far through an equity crowdfunding raise.
The car park builder’s offer price was 20c a share and this went to 25c on its first day on the ASX, before dropping to a low of 16.5c in July.
On news of the build yesterday, the share price ticked up to 17.5c.