In 1854, John McIlwraith set up a plumbing supplies business in Melbourne. By Tradelink’s own account, that business is where the brand began. More than 170 years later, Tradelink trades from a purpose-built showroom and warehouse on Princes Drive, Morwell.

Few tenants can point to a history like that, and fewer sell a product range that people need as reliably. Plumbers, builders and gasfitters buy tapware, pipe, fittings and hot water systems whenever a house is built, renovated or repaired. Homeowners come for the bathroom, kitchen and laundry showrooms. Tradelink serves both groups through a national network of more than 100 showrooms and trade stores, and its ownership changed in 2024.

On 12 August 2024, Fletcher Building announced it had agreed to sell Tradelink to Metal Manufactures for A$170 million, on a cash and debt-free basis. The sale completed on 30 September 2024. Fletcher said a strategic review had concluded that Tradelink was not a natural fit with its long-term focus, and it acknowledged that the business held a strong position in the Australian plumbing industry. The buyer has deep reach. Metal Manufactures is owned by Blackfriars Corp and the US-based Colburn family, employs more than 5,700 people and operates from more than 600 locations across Australia and New Zealand. Tradelink now sits inside that distribution network.

In Morwell, the showroom is at Unit 1/192-208 Princes Drive, one of the city’s primary arterial roads, where more than 17,200 vehicles pass each day. It sits in the established trade and industrial precinct, adjoining Goodyear Autocare, with Blackwoods, Shell, Pirtek and Cleanaway nearby. The Princes Freeway (M1) gives direct access towards Traralgon and Melbourne. The high-profile, modern large format showroom also has rear loading bay and roller door access, a practical feature for a trade supplier.

“Princes Drive is where Morwell’s trade economy comes together,’ said Darren Beehag, Senior Director at CBRE. “You have Goodyear in the same complex, Blackwoods, Pirtek and Cleanaway close by, and more than 17,200 vehicles passing every day. Tradespeople plan their runs around places like this.’

The region gives that traffic reason to keep coming. Latrobe City has 81,125 residents, a population forecast to reach 93,609 by 2046, and an economy that generates $17.34 billion a year. Mid Valley Shopping Centre, which reports more than 40,000 customers a week, is close by. So is the $800 million Icon Morwell development, Gippsland’s largest and newest industrial and commercial estate. Every new workshop and depot is a potential trade customer.

The lease is simple to read. Tradelink holds a renewed three-year lease from 1 October 2025 to 30 September 2028, with one further three-year option to September 2031. Rent is approximately $79,040 a year plus GST and rises by a fixed 4% every year, with a market review at the start of each further term. The tenant pays all usual outgoings except land tax, which leaves a net income of approximately $77,600 a year plus GST.

“The structure is straightforward,’ Beehag said. “Tradelink pays the usual outgoings other than land tax, the rent steps up by a fixed 4% every year, and the tenant has renewed through to 2028. Investors value that clarity.’

“Tradelink is a nationally recognised name backed by a large trade distribution group,’ he said. “That is what an investor wants to see behind the rent.’

The site is approximately 615sqm and zoned Industrial 1 under the Latrobe City Council Planning Scheme. The Tradelink investment at Unit 1/192-208 Princes Drive is offered through CBRE’s Investment Portfolio Auction, with First National Real Estate Latrobe. Full details are on the Tradelink listing, Morwell. It is a long story for a trade counter, and a simple one for an investor to read.