Confidence boosts as Sentinel invests again
August 1, 2018
Sentinel Group has acquired their third Townsville property in less than a year after snapping up a Bohle industrial facility for $12.6 million.
The 13,669sq m facility at 806 Ingham Rd, Bohle, is fully leased to leading packaging company Orora Limited and has been acquired for a passing initial yield of 9.59 per cent.
The sale follows Sentinel Group buying the River Quays office complex in December for $28.6 million and Central Plaza, a Flinders St office building in the city for $15.5 million in April.
Sentinel managing director Warren Ebert said the property on a substantial site area of 31,820sq m is the ninth addition to the Sentinel Industrial Trust, which also includes properties at Pinkenba, Crestmead and Oxley in Brisbane, Canning Vale in Perth, Paget in Townsville, Mayfield in Newcastle and Tuggerah on the NSW Central Coast.
“Townsville is set to benefit from a significant number of infrastructure projects across a range of sectors, and this is likely to be positive for population growth, employment and household income levels,” he said.
“The North Queensland industrial property market has also shown signs of strengthening with a number of transactions at encouraging yields.”
The Bohle property comprises a functional industrial facility, first built in 1988 and extended in 2008. It is one of only two cardboard manufacturing facilities in Queensland and services depots throughout North Queensland and the Northern Territory.
The property is about 10km west of the Townsville CBD with excellent access to the Bruce Highway and Port of Townsville.
Sentinel is based in Brisbane and the property investment firm has a total national portfolio of more than 40 retail, industrial, office, land, tourism infrastructure and agribusiness assets in Queensland, New South Wales, Victoria, Western Australia, the Australian Capital Territory and the Northern Territory with a total value in excess of $1.1 billion.Download the Article