This article is from the Australian Property Journal archive
VAUGHAN Constructions has secured a deal worth more than $8.5 million to build a new purpose-built facility for promotional products supplier Dex Collections, within the $55 million, 81,000 sqm Hammond Business Park in Dandenong South.
Crabtrees Real Estate’s Andrew Loudon negotiated the deal.
Dex’s new facility will comprise 4,905 sqm of office, showroom and warehouse space, concrete hard stand, a loading yard and 74 car spaces on a 13,031 sqm site on the corner of Hammond Road and Rodeo Drive.
The transaction brings take projects now under construction in the estate to 32,000 sqm, worth a combined $40 million-plus. Vaughan purchased the site in 2015.
Design and construct deals have included office, warehousing and manufacturing facilities for national wholesale fresh food distributor Bidfood, of a 6,534 sqm, timber veneer distributor Timberwood Panels (4,800 sqm), and an Australian beverage manufacturer (15,440 sqm).
Vaughan’s development manager in Victoria, Chris Telley, said the south-eastern market was experiencing the greatest lack of quality industrial buildings in a decade, a shortage that had been exacerbated by a lack of available land.
“As a stronger Victorian economy moves into a higher gear, driving manufacturing and logistics industries, and as residential demand continues to grow and take industrial land, we face even greater shortages particularly around the key transport nodes and especially along EastLink and that’s going to mean ongoing upward pressure on land values,” he said.
Australian Property Journal
