This article is from the Australian Property Journal archive
MELBOURNE Airport is expanding its property portfolio, securing plumbing and bathroom giant Reece Group to a purpose built facility at its business park.
ASX-listed Reece will relocate specialty business units in the area to the centralised multisite branch and is expected to move into the 11,670 sqm facility in July next year.
Tenants within the 410 hectare estate include Toll, TNT and Porsche, while Amazon committed to a 330 sqm space for its Amazon Flex drivers. About 129 hectares of the estate is now leased of developed, with the Reece facility to be built on more than 4.6 hectares.
“There’s no doubt the current COVID-19 health pandemic is impacting the aviation side of our business, but our property portfolio is strong and we’re focused on growing our precincts by attracting international brands and the right businesses,” Melbourne Airport’s chief of commercial property, Andrew Gardiner said.
Reece Group’s chief operations officer, Daniel Palumbo said Melbourne Airport is central to the ASX-listed company’s key suppliers and customers in the region, and that the combined multisite location would also see the creation of new jobs.
CBRE’s Daniel Eramo negotiated the lease with Reece Australia. Development will be funded by the airport’s owner, Australian Pacific Airports Melbourne.
