Buyer in $10M Outlay

April 8, 2020

An office building opposite Townsville’s new Queensland Country Bank Stadium is understood to have sold for more than $10 million with its buyer declaring he is more bullish than ever about North Queensland’s future prospects.

Brisbane-based Sentinel Property Group has secured its third office complex in the Townsville CBD with the purchase of the four-level Stanley St business Centre.

The Building was purchased through Neville Smith of Colliers International Townsville.

Sentinel managing director Warren Ebert said it was continuing to buy despite the travails of the coronavirus over the past five years was helping it.

“I am more bullish than ever about North Queensland. You have a fantastic decade ahead and we will continue to buy” Mr Ebert said.

Townsville was at the epi-centre of more than $22 billion worth of projects within the infrastructure, sporting, mining, defence, health and manufacturing sectors he said.

“Some of the significant benefits to the region include the Port of Townsville Expansion Project, the military training agreement between Australia and Singapore, and the RAAF base upgrade,” Mr Ebert said.

Mr Smith said the sale was a sign of the confidence in the Townsville market.

Tony Raggatt

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