Complex growing

September 14, 2016

Sentinel Property Group is adding retailers and investing in marketing and infrastructure at its Woodlands Village Shopping Centre at Deeragun.

It comes amid a competitive market in the northern suburbs with construction starting on a new Coles supermarket at Bushland Beach and the auction of a quality Deeragun retail showroom by Colliers in Sydney on September 21.

At Woodlands, Sentinel has added retailers Buddha Bakery and Tobacco Station, while existing retailers Woolworths, Woolworths Petrol, Woodlands Bottle Shop and Loose Ends extended their leases. Sentinel North Queensland portfolio manager Michael Kopittke said the signings and renewals showed confidence in Sentinel’s strategy to enhance the centre’s retail offering. “Having local hands-on management in Townsville ensures that we are working closely with our retailers to ensure the centre is in the best possible condition and reaching its full potential,” he said. “With the opening of Buddha Bakery, the centre is now filling up. There are still a few vacancies but since the confirmation of the new Townsville Stadium development inquiries have been the highest to date.”

Improvements include installing seating and tables in the food area to service Pizza Capers, Nanking and Masala. Mr Kopittke said markets held at the centre continued to grow in popularity. He said a Lions club had taken over the reins of the markets and feedback had been positive.

Colliers will auction a Northside Square tenanted retail showroom at Deeragun with net annual income of $420,000 and weighted average lease expiry of 9.2 years as part of a portfolio auction as its Sydney offices on September 21. Colliers International agent Neville Smith said the property was a quality asset.