PARKD LTD announced that it has signed Stage 1 of a Design and Construction Contract for the delivery of technical services, including design and documentation, with Audi Centre Perth for the development of an integrated sales, servicing and storage facility at a site in Myaree, South West Perth. The value of the Stage 1 works is $426,500 and is to be complete by early December 2022 under conditions that are industry standard for a contract of this nature. On or within 60 days of the completion of the Stage 1 works Audi Centre Perth will provide notice to the Company to proceed or not proceed with Stage 2. These Stage 1 works are being undertaken with the intent for PARKD Construction to deliver Stage 2 turnkey construction services subject to the outcomes from the technical works.

The value of the Stage 2 works is estimated to be $12M including approx. $7M for the construction of the structure, façade and glazing. The visionary Auto Retail Centre design and concept will be situated on an approx.

4000sqm lot of land hosting a 12 new vehicle showroom with 16 environmentally friendly service bays and external capacity to present 46 pre-owned vehicles and undercover all weather customer parking. The Dealership has been developed collaboratively between Audi Centre Perth and PARKD Ltd. to meet the manufacturers aspirations to lead the industry in customer experience and sustainable multi-service facilities. The development will consolidate sales, servicing, pre-delivery and parts into a vertically integrated three storey structure utilising the PARKD prefabricated permanent structural solution throughout the build.

The use of the PARKD solution will accelerate the construction program and minimise the risk of supply chain material escalation and resources availability whilst halving the amount of concrete and subsequent carbon impact compared to traditional construction.