REH moat, page-134

On a slightly different note, Reece are reportedly planning to relocate their headquarters from Burwood to Cremorne (near Richmond, in Melbourne; not to be confused with Cremorne, Sydney).

The relocation does portend a greater property spend, which some here might feel is inconsistent with the Reece ethos. But they were in Burwood for years and Ringwood (Pilgrim Court) for years & years before that, so the move is arguably a sensible and inevitable one in the context of their ongoing (hopefully profitable) expansionary bent.

The SMH (21 March) reports:
In a historic move, listed plumbing supplies firm, the Reece Group, will shift its headquarters from the suburbs to Zig Inge’s new building on the historic Rosella complex in Cremorne. Reece moved to its Burwood headquarters in 1986 and has been in the suburbs since its founder sold plumbing supplies from the back of a truck in 1920. The 98-year-old company will move to its new seven-level Cremorne digs at 57 Balmain Street in 2020, its centenary anniversary.
https://www.smh.com.au/business/companies/reece-comes-into-the-cool-20180320-p4z59f.html

Same info appears on their linked-in page:
https://www.linkedin.com/company/414782/