Goodman buys Gibson Island
Dyno Nobel, known until December as Incitec Pivot, has sold Gibson Island to Goodman Group.
The 58 hectare Murrarie parcel – which also accommodates DN’s local headquarters – collected $194 million – or $102 million after remediation and leaseback costs (priced by the seller at $92m or $64m after tax).
Offered vacant – but including the only high pressure urea plant in the world, with a reactor pressure of 450 atmospheres, and a liquid carbon dioxide plant supplying half the liquid CO2 used in Queensland soft drinks – an industrial estate is expected.
Coinciding with the sale announcement, DN confirmed it sold its fertiliser distribution business to Ridley Corporation, for $375m.
Both listings were mooted late last year.
Gibson Island, which ceased operating in January, 2023 after 54 years, was one of two DN product distribution centres.
The other is in Pinkenba.
Also this week we are reporting Goodman buying a 260ha permit-ready industrial development site in Melbourne’s north Epping.
Subscribe to our newsletter at the bottom of this page.
