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269-271 Frankston-Dandenong Road

Projects

269-271 Frankston-Dandenong Road

Location

Dandenong South, VIC

Size

GLA 7,351 sqm on Land 24,330 sqm

PURCHASE Date

November 2012

Sold

April 2015

Completed

TR

27.7

%

269-271 Frankston-Dandenong Road
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Activities

Pre-acquisition, QE successfully negotiated a new 10 year lease with the long-standing occupant.

Strategy

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.

Outcome

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.