The runaway vehicle also hit a car before continuing on over the Cumberland St one-way and smashing into three parked cars on the other section of Police St.
Parks general manager Stuart Gerring this afternoon confirmed the accident involved one of the company’s trucks.
“What has happened today is a tragedy for all involved and this is the first incident in the 30 years my family has owned the company,” Gerring said.
“On behalf of Parks, I extend our very sincere condolences to the family and friends of the pedestrian, who died in the accident,” he said.
He also wished to acknowledge the assistance given by members of the public and the work of emergency services.
The company was providing support for the driver involved.
“The suddenness of this tragedy has shocked everyone involved,” Gerring said.
The northbound one-way remained closed for much of the day but reopened shortly before 5pm.
Hato Hone St John said it was notified of the crash at 7.53am and responded with three ambulances and a rapid response unit.
A Fire and Emergency New Zealand spokesman said crews were called to reports of a truck and trailer unit hitting multiple cars.
Crews from Lookout Point, Willowbank and Dunedin City stations attended.