Puma’s Moorabbin site changes hands after 45 years

Local industrial developer Neue Space has acquired Puma’s iconic bayside site in Moorabbin. It’s the first time the landmark property at 111 Keys Road has changed hands since becoming Puma’s head office and retail outlet 45 years ago.

The sale, brokered by CBRE’s Sasan Misaghian and David Aiello, attracted substantial interest with multiple Expressions of Interest submitted.

Mr Misaghian said the site’s 132-metre frontage to Keys Road offered a range of development possibilities making the property, with a 9,940sqm building on 16,187sqm of land, a highly coveted asset in the region.

“This sale marks a new chapter for the Moorabbin area as this truly iconic site transitions from its long-standing Puma ownership. The level of interest we received is a testament to the property’s prime location and the development opportunities it presents. We are thrilled to have facilitated this transaction and look forward to seeing how Neue Space will transform this landmark property,” Mr Misaghian added.

Of the sale, Puma’s Director of Finance Joe Margheriti said, “Moorabbin has been the home of Puma for 45 years and has been part of the DNA of the brand - everybody knows the Puma HQ office - we are also extremely excited to start a new chapter for the business at our new premises in early 2026.”