River site snapped up

July 26, 2019

Michael Bleby, Nila Sweeney | Commercial Real Estate.com.au

Sentinel Property Group has purchased an industrial site on the Brisbane River for $37.75 million, reflecting a passing yield of 8.08 per cent. It was sold by a private seller through Knight Frank’s Greg Russell.

The 63,811 sqm site at 168 Anton Road, Hemmant, benefits from 31,501 sqm wet lease area critical for large vessel and marine-based requirements. It is anchored by tenancies to ready-mix concrete manufacturers Boral, Hanson and Holcim as well as Yamba Shipping and Monadelphous, which currently use the site and wet lease area to hold and distribute sand dredged from Moreton Bay as well as concrete batching.

Separately, Sentinel has appointed Paul McDonnell to the newly created role of director of property.

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