Coke buys $64.5m Kewdale factory

Coca-Cola Europacific Australia has purchased its Kewdale production plant from Charter Hall for $64.5 million, in an off-market deal that settled earlier this year.

The beverage company bought 19 Miles Road from institutional property owner Charter Hall, which held the asset in an industrial fund.

It is understood that Charter Hall intended to take the 4.3-hectare property to market, but tenants Coca-Cola exercised its rights to buy the asset off-market.

Charter Hall bought the site for $45.25 million in late 2018 from Coca-Cola, with the beverage company holding onto an adjoining site where it plans to build a new distribution centre.

The property includes a 28,000 square metre building. 

The property fund still owns Coca Cola’s main Perth distribution facility in Hazelmere.

Coca-Cola celebrated the 50th anniversary of its Kewdale manufacturing facility last year. 

The factory, opened by former Premier John Tonkin in October 1972, employs about 160 people.