Fletcher Building Sells South Australia Industrial Property for Over AU$20 Million

MT Newswires Live

05/15

Fletcher Building (ASX:FBU, NZE:FBU) entered into an unconditional agreement to sell its surplus Iplex Australia industrial property in Elizabeth for AU$20.1 million to an industrial property investor, according to a Friday filing with the Australian and New Zealand bourses.

Iplex Australia will lease the site for up to 12 months after completion to facilitate the removal of its operations, per the filing.

The transaction is anticipated to close in June, with the payment structured in two installments, the first upon completion and the second in the first quarter of fiscal 2027, the filing said.

The company expects to record an estimated fiscal 2026 earnings before interest and taxes gain of around AU$10 million from the sale, after accounting for sale-related, rationalization, lease, remediation, and restructuring costs, the filing added.

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