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Gentrack’s stumble should be a one-off
Tim Hunter
Fri, 08 May 2026
Thu 07 May 2026 09:18:05pm
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Thu 07 May 2026 09:18:05pm
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Fletcher to sell Melbourne property for $65m
Fletcher Building has announced a sale and leaseback deal on a property in Melbourne used by its Laminex subsidiary.
In a statement to the NZX, Fletcher said the conditional agreement with Forza Capital involved the sale of the property at Cheltenham for A$53.8 million ($65m) and a minimum three-year leaseback.
The company said the timeframe would allow for a “broader review of the manufacturing site requirements” for Laminex.
The transaction is expected to complete by the end of June, subject to environmental due diligence and internal governance approvals.
Fletcher said it would generate a gain on sale of about A$14m.
Managing director Andrew Reding said the deal was a further step in optimising the group’s property footprint and contributed to ongoing capital management.
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