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.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.