Neptune to bring operations under one roof

Neptune Marine has announced it will consolidate its Australian operations into a single purpose-built location in Welshpool.

Neptune said it had signed a lease agreement covering the Welshpool property for the next 10 years, with the company holding the option to extend the lease for two further five-year terms.

Neptune currently operates out of four separate locations around the metropolitan area.

“It has been Neptune’s goal to have all of its Australian operating divisions and corporate office in one central location,” Neptune chief executive Robin King said.

“Having all of Neptune’s services operating under one roof will bring significant benefits and increased efficiencies to our organisation, and further facilitate the management of our integrated projects.”

The facility is expected to be complete by March 2015.

Neptune shares were steady on the ASX today, at 3.6 cents.

Meanwhile, in another Welshpool industrial leasing deal, Australian Machinery Engineering will take up a 6,829 square metre site with a 1,000sqm warehouse on Ewing Street.

The deal was negotiated by Ray White Commercial Perth on behalf of a private investor owner.

AME will take out a five-by-five-year lease on the facility, at a net rental industry sources have estimated to be around $200,000 per year.

Ray White Commercial’s Martin Vogt said demand for large industrial sites remained strong, particularly from transport-related users.

"Demand for logistics facilities offering high truss warehouse facilities with good access for container storage and large vehicle access in Kewdale/ Welshpool and surrounding areas continues to be strong," he said.

"It is a property type that is difficult to accommodate because stock levels for quality premises are tightly held and those that do come on the market are leasing very quickly."