CSR sells former glass site to Bunnings

CSR Limited announced today that it has entered into an agreement to sell a 2.6 hectare site at Alexandria, inner Sydney, to Bunnings.

The site was a former glass factory which CSR acquired as part of its acquisition of Pilkington in June 2007.

CSR ceased glass operations on the site in 2009 and continues to manufacture float glass from its two other facilities at Ingleburn in Sydney and Dandenong in Melbourne.

“The transaction is part of our overall approach to realise value from surplus industrial property and this particular sale is one of the most significant transactions in the area,” said Rob Sindel, CEO, CSR Building Products.

“The factory stretches back to the early 1930s and part of the site remediation work will include preserving the period brick fa├žade of the building.”

At an on-site ceremony with the NSW Premier today, Bunnings announced plans to build a flagship 20,000 square metre store on the site which is expected to open in mid 2012.