Sentinel seeks Paget tenant for new 2205sq m industrial workshop
July 6, 2021
The new 2205sq m facility offers a high-clearance workshop with concrete and gravel hardstand and the capacity for 100-tonne of overhead cranes.
A commercial real estate investment trust is seeking tenants for a new $6.2 million industrial workshop complex in Paget.
Sentinel developed its second industrial facility in the Mackay region on a property it bought in 2019 in response to demand for larger industrial workshops.
The trust contracted Woollam Constructions to build the 2205sq m facility on a 7350sq m site at 22 Gateway Dr, Paget.
Woollam Constructions also built a major warehouse complex for Sentinel on a 6449sq m site at 40 Gateway Dr, Paget, which resources logistics company Bis has leased.
Sentinel, which is seeking tenants for 22 Gateway Dr, says it has gained extensive insight into the Paget leasing market through its existing Mackay network and proactive leasing approach which has included door knocking industrial businesses to better understand their future requirements.
Sentinel chief investment officer Warren Ebert said a key insight gained had been the short lead time tenants had to find a larger industrial workshop when they won a new contract.
“Many of the industrial tenants we are talking to in Mackay only have one to three months to get prepared for a new contract,” the executive chairman said.
“Given there are very few workshops of any scale and quality available for lease in Paget currently, tenants get stuck for options.
“We have therefore, designed and built a workshop at 22 Gateway Dr to cater for the majority of Paget’s tenants as a solution.”
The new facility has a high-clearance workshop with concrete and gravel hardstand, the capacity for 100-tonne overhead cranes on a large site area which enjoyed about 57m frontage and has expansion potential.
The high impact industry zoning allows for a variety of uses including 24/7 operations and the property is only minutes to the Bruce Highway and major arterial roads with convenient access for heavy vehicles.
Mr Ebert said Mackay had been an important regional market in the national growth and success of Sentinel and the company had tremendous confidence in the region’s economic future.
“Sentinel’s total portfolio in the Mackay region is circa $170 million, which demonstrates our significant commitment to the region, the Mackay community and Sentinel’s expectations for future growth in the Mackay region,” he said.
Daily Mercury Online – 6 July 2021