Update for parking cash cow

One of Perth's busiest carparks will be fitted with a guidance system that directs motorists to empty bays using coloured lights.

The City of Perth unanimously approved in-principle funding of $750,000 for the system at the Convention and Exhibition Centre carpark on Mounts Bay Road.

The system involves coloured lights above each bay and sensors to detect whether the bay is occupied.

A parking committee report said there was a strong financial case for the system. The carpark, built in 2004, far exceeded profitability projections and reaped more than $4 million last financial year.

The report said that because the carpark was single storey with 1484 bays, motorists often had difficulty finding a space, leading to frustration.