Major corporations head to Dandenong South: Savills

Major corporations head to Dandenong South: Savills
Staff reporterMarch 12, 2018

Engineered joining technology manufacturer Norma Group is set to relocate to Logis Eco-Industrial Business Park, as part of a growing trend of major corporations moving to the Dandenong South industrial precinct.

The global company has signed a pre-lease for a 3,000 square metre state-of-the-art office/warehouse on Bazalgette Crescent, in Melbourne's south east, to be fulfilled by market-leading developer, BFD Construction.

Savills Australia’s Kosta Filinis worked closely with both parties to negotiate the seven-year term.  

Industry sources believe rental rates for similar asset in the precinct are circa $100-$110 per square metre.

“This lease term is a sign of the commitment from both sides to the project, and has enabled both the tenant and the landlord to achieve their requirements,” Filinis said.

The purpose-built facility will have direct access to Greens Road, the Dandenong Bypass and EastLink, and is located in the Logis North section of the Logis Eco-Industrial Business Park.

The environmentally friendly estate, which was developed by Melbourne Water and Places Victoria.

Filinis said the deal was another “outstanding result” for the popular Dandenong South industrial market.

“The area is consistently drawing occupiers from competing markets, such as Braeside, Scoresby and Rowville.”

Norma Group’s new facility marks another major deal for BFD, which has enjoyed recent successes developing warehouses of a similar size for NSK Australia, Sullair Australia and Terex.

 

Editor's Picks

Half of apartments snapped up in Setia's Atlas Melbourne skyscraper
Sherpa expands Palm Beach footprint with Flourish Ovana plans
TOGA’s Wicks Place brings Harris Farm to Marrickville
Bradmill Quarter: Bringing community and amenity to life in Yarraville
Orchard Piper secures $20m record-breaking penthouse sale at One Toorak Place