Plastec Australia expands with two major Caloundra West industrial acquisitions

Plastec Australia, a leading manufacturer of innovative plumbing products, has secured two industrial warehouses in separate off-market transactions with a combined value of $9 million as part of its growth plans for operational expansion.

The properties, located at 34 Enterprise Street and 21 Enterprise Street in Caloundra West, have a combined building area of 3,541 sqm.

Director and Founder of Plastec Australia Syd Hawthorne said, “These new facilities will enable us to enhance our production capabilities and better serve our customers. We are committed to driving innovation and supporting the local economy.”

The off-market deals were managed by CBRE’s Jack McCormack and Matt Marenko.

Mr McCormack said the sales were a reflection of the Sunshine Coast’s tight industrial market.

“Given the scarcity of freestanding buildings over 700 sqm across the Sunshine Coast, most transactions are secured off-market with highly competitive offers being made to avoid consideration of an on-market campaign. With limited industrial land supply and new developments in the region, we expect pricing to remain robust into 2025,” he added.

Recently named a finalist in the Manufacturing Category of the Sunshine Coast Business Awards, Plastec Australia operates three large distribution warehouses across Queensland, Victoria, and Western Australia, and has been a cornerstone of the Sunshine Coast's manufacturing sector since 1992.