NECA Education & Careers has leased the Dandenong property which was RSEA Safety’s first store.
The school and employment agent is paying starting rent of $210,000 for the complex, 40-46 Cheltenham Road, opposite Dandenong train station.
The 1538 square metre facility was offered in four parts – three warehouse spaces, between 328-698 sqm, and a 100 sqm office – following a major refurbishment.
Thirty five parties looked in, according to the agents.
But the offer to take the lot for an initial five years by NECA, or the National Electrical and Communications Association, was accepted.
The agreement also includes 43 gated car parks.
Elsewhere in the suburb – marketed for decades as Melbourne’s second city – Pelligra last week outlaid $145m for the Dandenong Plaza with plans for a major mixed-use redevelopment with high density residential.
Capital Alliance is also replacing several major sites in the Dandenong town centre – all up covering 1.9ha – after winning a Places Victoria contract in 2020.
NECA spreads south
NECA also operates from Carlton North.
“[The Dandenong property] was a perfect opportunity for them to profile themselves as they expand their business into south east Melbourne,” CVA’s Tim Cooney, who marketed 40-46 Cheltenham Rd with John Nockles, said.
“The building will be unrecognisable to its previous standing as RSEA’s first Melbourne store from 2000, due o the landlord’s extensive full building refurbishment on top of the tenant’s comprehensive fit out – resulting in a completing revitalised building in a location that continues to change by the day,” he added.
“There’s more than eight million cars annually making the voyage past – so exposure and signage opportunities are only matched by the predicted rapid growth as Victoria’s newest CBD in Dandenong attracts more residents, workers and traffic,” according to the executive.
RSEA meanwhile now trades from over 70 addresses; in 2020 we reported the lease of one store, at MAB’s Clyde North Lifestyle Centre, about 20 kilometres south east of Dandenong, for 1013 sqm.
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