Rent rise at Port of Melbourne threatens Victoria s competitiveness

Rent rise at Port of Melbourne threatens Victoria’s competitivenessNews of a significant rent rise at the Port of Melbourne has sent alarm bells ringing across the property industry.Earlier this week, stevedore DP World announced that it faced a rent increase of more than 7 per cent from the Port of Melbourne Corporation, as the Government commences its privatisation of the Port this year.The Property Council is deeply concerned by the potential economic damage that would follow should the Port of Melbourne become the most expensive port in Australia. The possible impacts of the rent increase could involve long term ramifications for the cost of doing business in Victoria, and for Melbourne’s reputation as a competitive logistics hub.