Puma sells Melbourne HQ
Puma has sold its middle-suburban headquarters of 45 years ahead of a move to the city fringe.
The sports product manufacturer and retailer is banking over $13 million, sources speculate, for 103-105 Keys Road (marketed as 111 Keys Road) – which hit the market August.
It paid $800,000 in 1979.
The incoming owner, Neue Space, is planning to repurpose and re-let the 9940 square metre building on 1.62 hectares. CBRE’s Sasan Misaghian and David Aiello were the agents.
Moorabbin is about 15 kilometres south east of Melbourne’s CBD.
The deal comes a year since we reported self storage group Abacus paid $13m for the ex-Mr Donut manufacturing plant on 1.7ha in nearby Mordialloc.
Puma will relocate its office functions to inner east Cremorne early next year.
It also recently announced plans to move its United Kingdom headquarters from London to Manchester.
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