Sentinel Boosts Port Presence

October 12, 2019

PORT PURCHASE: Sentinel Property Group has paid $3.5 million for a vacant, development-ready site adjacent to another of its industrial assets at Mayfield.

Sentinel Property Group has purchased a vacant, development-ready site adjacent to another of its industrial assets at Mayfield, giving the real estate investment trust a 50-hectare combined landholding in the Port of Newcastle precinct.

The approximately 10.16 hectare cleared site at Lot 6, 71 Industrial Drive, Mayfield, was bought for $3.5 million. It adjoins Sentinel’s industrial investment at 51 Industrial Drive, which was purchased for $31 million in 2015.

Sentinel managing director Warren Ebert said acquiring a vacant site next to 51 Industrial Drive offered many opportunities for Sentinel to add value.

Newcastle Herald.

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