Hall & Wilcox has advised Australian pallet hire company Loscam on its lease of industrial property from Dexus Property Group (Dexus).
The lease has enabled Loscam to develop its largest Australian pallet repair centre at Laverton in Melbourne's west.
The Hall & Wilcox team was led by partner Peter Jenkin, who was supported by senior associate Bridgette Coles. The team advised on the lease of the repair centre which has an initial term of 10 years.
The development cost, including land, is estimated to be approximately $10 million with a forecast yield on cost of 8.9 per cent.
Jenkin said of the deal: "This development is Loscam's first growth initiative since its acquisition by China Merchants Group in July. We have a strong relationship with Loscam and are thrilled to be able to continue working with the team as they continue their growth."
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