Fletcher Building's Laminex plans to sell its Melbourne property for A$53.8 million.
Fletcher Building's Laminex plans to sell its Melbourne property for A$53.8 million.
Fletcher Building says its Laminex AU business unit has agreed to sell its Cheltenham, Melbourne, property to Forza Capital for A$53.8 million ($65.3m).
Completion of the sale was conditional upon Forza’s satisfactory completion of environmental due diligence and receipt of internal governance approvals by mid-June 2026, the company said.
Ifthe conditions were satisfied, the transaction was expected to be completed by the end of the June 30, 2026, financial year, it said.
After the sale, the business would occupy the site for a minimum period of three years.
“This will allow time for a broader review of the manufacturing site requirements for Laminex AU to be completed.”
If the sale completes this year, based on the purchase price, Fletcher Building expects to record a gain on sale of A$14m in its 2026 earnings before interest and tax, net of sales, lease remediation and restructuring costs.
Fletcher Building managing director and chief executive Andrew Reding said the sale was a further step in optimising the group’s property footprint.
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