Industrial investment and Boost for Unity
July 18, 2016
Sentinel Property Group has sold an industrial investment in the Brisbane suburb of Richlands, to the Beenlee Property Trust No. 11 for $15.75 million. The 26,800 sq m property, at 145 Archerfield Road, includes 12,168 sq m of warehouse, which is leased to tenants such as Gough Transport and Downer Electrical. The head of CBRE’s industrial team in Queensland, Ed Bull, negotiated the sale at a yield of about 9.3 per cent. Sentinel bought the property, and an adjoining holding, for $18.5 million. Both have now been sold for a combined $21.85 million.
Boost for Unity
Sentinel, through Ebert Investments, has also boosted its stake in takeover target, and property funds group, Unity Pacific, from 13.35 per cent to 16.08 per cent.Download the Article