20 May 1999: Property Solutions Australia (PSA) has snared a top-flight tenant for its Junction Industrial Estate at Morningside.
PPG Industries Australia, which is part of the Pennsylvania Plate Gla…
20 May 1999: Property Solutions Australia (PSA) has snared a top-flight tenant for its Junction Industrial Estate at Morningside. PPG Industries Australia, which is part of the Pennsylvania Plate Glass Co., has taken a 10-year lease over a new design and construct project. The US giant bought out Dulux“s auto colour division from Orica last year. The plan is to use the facility at Junction Industrial Park to set up its Queensland sales and training centre. Architect Colin Loel is designing an 1,112 square metre office/warehouse for PPG in a 3,964 square metre site, lot seven in the estate. PPG will be paying A$ 104 per square metre on the Lytton Road Estate. PSA director Rick Bird said the whole project had already been on-sold to an investor for A$ 1.5 million. Mr. Bird said PSA“s builder, Spaceframe, had started construction work. He said the lease and sale meant that 50% of the Morningside estate was now sold. Development on the estate includes a 2,400 square metre office warehouse developed in four modules. Four of the nine units have so far been sold. PSA is also building another office/warehouse “on spec”, Mr. Bird said. The developer plans to retain the balance of the land on the Junction Industrial Estate for “future speculative development”.