Neptune has signed an agreement for lease that will see the construction of a purpose-built facility in Welshpool, Western Australia. Under the terms of the agreement, Neptune will commit to lease the site for an initial ten year term with Neptune having the option to extend the lease for two further terms of five years each. In addition to rent savings, the consolidation of Neptune’s four current Perth locations will result in operating efficiencies and other cost savings.
Chief Executive Officer Mr Robin King stated, “It has been Neptune’s goal to have all of its Australian operating divisions and corporate office in one central location. 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.”
Construction of the new facility is scheduled to be completed to enable Neptune to relocate in approximately March 2015.