QLS Pays $9.15 Million for Dandenong Asset, Also Leases Factory
In the meantime, the service provider has leased a 22,000 square metre building in Pound Road, Dandenong, paying a starting annual rent of $1.5 million, or about $68 per square metre, per annum.
QLS will relocate from a smaller facility it has outgrown, also in Dandenong.
Knight Frank national director industrial James Templeton negotiated the sale and lease deals.
He expects industrial construction in Melbourne’s south-eastern region to fall to 135,000 square metres next year, from just under 300,000 square metres of industrial space set to open in the area, this year.
