This article is from the Australian Property Journal archive
MACDONALD Johnston, a waste compactor manufacturer, has signed a major lease for an office and warehouse complex in the Caribbean Business Park adjacent to Ferntree Gully Rd and Eastlink in Scoresby, in Melbourne's eastern suburbs.
The deal at 6 Dalmore Drive was negotiated by Crabtrees Real Estate director Grant Tishler.
MacDonald Johnston has leased over a 5,964 sqm of space. The building has been vacated by Russell Corporation, who has moved to a larger new building elsewhere on the 240 ha estate at 5 Lakeview Drive.
The annual rental is undisclosed but is in line with industry rates of $85 a sqm for space. The lease also allows annual rental increases at 3%.
Tishler said MacDonald Johnston will consolidate its manufacturing of their waste compaction equipment in the new location.
“The new lease was agreed to ensure that there was only a short period from Russell Corporation’s moving out to MacDonald Johnston moving in,” he added.
The Caribbean Business Park is home to a significant range of Australian and international companies and has been in the hands of the Spooner family who acquired the property as farm land in 1942.
The development places great store on the environmental aspects and all office buildings at Caribbean Business Park are now targeted at a 4.5 star NABERS rating for energy efficiency.
Property Review
