Fletcher Building has entered into an unconditional agreement to sell its Felix Street industrial property, located in Onehunga, Auckland, to Goodman for $NZ53.5 million ($45.7 million). The transaction is anticipated to be finalised at the end of May 2026. Fletcher Building is a large New Zealand-based company involved in building materials, construction, and property development. Goodman is a global property group that owns, develops and manages industrial and business space.
The sale is forecast to deliver a gain of approximately $NZ11 million for Fletcher Building. This gain will be recognised in the company’s FY26 EBIT (earnings before interest and taxes). The company expects this financial boost to partially mitigate the continuing softness in residential housing sales.
The decision to divest the Felix Street property followed Fletcher Building’s strategic decision to establish its PlaceMakers Frame & Truss plant at the former CleverCore site in Wiri. This consolidation of operations is aimed at improving efficiency and optimising the company’s industrial footprint in the Auckland region.
