ASX-listed distributor, Dicker Data (ASX:DDR) has bought an addition 17.2 hectares of land adjacent to its current facility, costing $18 million.
It has acquired the property at 238 – 258 Captain Cook Drive, Kurnell, which has 10 hectares of usable land.
Chairman and CEO, David Dicker, was pleased to secure the property.
“As our operation continues to grow, we believe that this new land will give us the capacity we need to maintain the strong growth trajectory we’ve been on,” Dicker said. “We intend to build a new facility to have all of our staff in a single office and significantly expand our warehousing capability.”
In a statement, Dicker said that any land that was in excess to requirements may be subdivided and sold.
The purchase will be funded from a combination of existing cash and a draw down on the receivables facility.