Fletcher Building to sell Melbourne property to Forza Capital for $53.8m

The news: Fletcher Building’s Laminex AU business has agreed to sell its Melbourne-based property to Forza Capital for $53.8 million.

The context: Completion of the sale is subject to Forza’s completion of environmental due diligence and internal governance approvals. Once conditions are met, the transaction is expected to complete by the end of FY26.

Fletcher Building said it expects to record a gain on sale of approximately $14 million in its FY26 earnings before interest and tax, net of sales, lease remediation and restructuring costs.

What they said: “This transaction is a further step in optimising the group’s property footprint, while providing flexibility to complete the Laminex AU footprint review,” Fletcher Building CEO Andrew Reding said.