DFO Cairns sells for $40m to Brisbane based property group
April 1, 2016
The Sentinel Property Group has bought the DFO Cairns shopping centre at Westcourt for nearly $40 million.
It is the property investment group’s largest acquisition. Sentinel managing director Warren Ebert said the $39.7m purchase represented a major boost to its national retail portfolio and its growing presence in the North Queensland property market.
The DFO Cairns is set on 8.15ha site with a total floor area of 25,000sqm and parking for more than 1500 cars. Mr Ebert said it was the only direct factory outlet north of Brisbane and is home to an array of national and international tenants, including Coles, Hungry Jacks, Trade Secret, Bonds, EB Games, Ralph Lauren and Royal Doulton.Download the Article