Tupperware has finally sold its Ferntree Gully headquarters – a landmark property it built 59 years ago.
The plastic maker is banking just over $20 million from the deal.
The purchaser is a company controlled by Kevin Ward, a prominent eastern Melbourne builder and investor responsible for the industrial redevelopment of the 12-hectare former Vulcan site at the corner of Bayswater Road and Mountain Highway, Bayswater.
A year ago Mr Ward listed for sale a showroom and neighbouring 9.9 hectare tract of land, in Canterbury Rd, Kilsyth, with c$50m total price hopes.
When the 5.9 hectare Tupperware site at 19-21 Brenock Park Drive was last listed for public sale five months ago it was speculated the price could surpass c$25m.
Dawkins Occhiuto’s Chris Jones, Walter Occhiuto and Andrew Dawkins were the marketing agents, and JACX Property’s Michael Jackson the transaction manager.
With two zonings, Industrial 1 and Special Use, the parcel has more than 520 metres of street frontage.
Occupiers and developers were targeted as part of the campaign (story continues below).
Ferntree Gully is about 30 kilometres south east of Melbourne.
Tupperware has wanted out of Ferntree Gully since 2017
Tupperware managing director Daniel Wood previously said the property disposal was part of a global strategy to consolidate operations and streamline its supply chain.
All the products it sells in Australia now are manufactured overseas, too.
The vendor last listed the 22,613 square metre office-warehouse at the end of 2017 – two months after the last local commercial property cycle peak.
Last year, it appointed agents to lease it.
Dawkins Occhiuto and JACX Property promoted it for sale with vacant possession.
Following an expressions of interest campaign which closed on May 19 it settled on June 9.