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Dandenong South VIC
GLA 7,351sqm on Land 24,330sqm
Purchase November 2012 • Sold April 2015
An industrial facility built in 1970 and modernised in 2004. The facility consists of an office, factory and warehouse with total building area of 7,095sqm on land area of 2.43 hectares.
Located on the north eastern corner of Frankston-Dandenong Road and Cojo Place, approx 32km south east of Melbourne.
The property was purchased on a sale lease back agreement.
Pre-acquisition, QE successfully negotiated a new 10 year lease with the long-standing occupant.
Notwithstanding the relatively passive nature of this investment, we continually focused on developing and maintaining a strong relationship with the tenant.
In 2014, we built a storage shed of approx. 250sqm to the tenant’s specifications and in return the tenant agreed to execute a new 14 year lease.
Property was sold in April 2015.