Dicker Data has sold its current distribution location at 230 Captain Cook Drive in Kurnell, NSW for $36 million as it makes way to build a bigger distribution facility next door.
Proceeds from the $36 million property sale will go towards bringing down debt and building the new distribution warehouse, which will almost be double the size from the current facility, which stands at 15,000sqm, whereas the new location at 238 Captain Cook Drive in Kurnell will be 29,000sqm.
Under the conditions of sale, which is expected to close on 15 August, Dicker Data will enter into a lease-back arrangement to lease the property while the new facility is being built, and is expected to move in by early 2021.
The distributor has already gained development application approval and has so far revealed the new digs will offer up a 70 per cent increase on warehouse space at 22,000sqm and office and amenities will increase from 2000sqm to 7000sqm.
More to follow.