Melbourne

Rydell Beltech inks new lease on Dandenong facility

Rydell Beltech, owned by global powerhouse Ammeraal Beltech, has signed a 10-year lease term on its new facility at 51 Bazalgette Drive, comprising a 2655sqm state of the art warehouse/office facility located within the Logis Estate.

07 Aug 2018

Continued business expansion has sparked leading belting company Rydell Beltech Pty Ltd to relocate its Melbourne operations under one roof in Dandenong South. 

Rydell Beltech, owned by global powerhouse Ammeraal Beltech, has signed a 10-year lease term on its new facility at 51 Bazalgette Drive, comprising a 2655sqm state of the art warehouse/office facility located within the Logis Estate. 

Situated on a 4,000sqm site, the brand new facility combines both high clearance warehousing with modern corporate office space – an important combination for Rydell Beltech.

CBRE’s James Jorgensen and Alex Grima, conjunctionally with Angus Clark of Cameron Industrial, negotiated the transaction on behalf of LWE Pty Ltd for a net face rent of $93 per square metre. 

Mr Jorgensen commented on the deal: “Located in Moorabbin since 1974, across a number of sites, Rydell Beltech was in need of a larger and more modern facility that would support its continued expansion in Australia.

“The quality of this building, the overall estate and the access to East Link were the key features that attracted the tenant to this property.” For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.