Sentinel snaps up land
April 17, 2019
Demand for industrial land in Paget has increase and Sentinel Property Group have plans to develop two vacant sites to bring more businesses to the area.
Combined, these properties cost just over $2.5 million, and the group plans to develop them into industry facilities for prospective tenants.
Sentinel managing director Warren Ebert said regional towns such as Mackay had outpaced Brisbane’s growth and market conditions conditioned to strengthen – touching on diversified sectors such as mining, agribusiness and construction as just some of the driving factors.
He said Sentinel had identified opportunities from the acquisition of several well-located parcels of land in Paget, with plans to build industrial facilities for tenants.
“Tenant inquiry and owner occupier demand has rapidly increased in Paget recently as a result of the growing mining and mining services sector in Central and Northern Queensland, in addition to Mackay’s growing diverse economy,” Mr Ebert said.
“This increased demand combined with the limited number of suitable premises currently available is creating an opportunity for development to satisfy demand.”
An 11,280 sqm ‘high impact industry’ at 10-26 Margaret Vella Drive was acquired for $1,065,870. Both are part of the Sentinel Growth Fund.
Sentinel also recently secured a 7350 sq m site with ‘high impact’ industrial zoning at 22 Gateway Drive, Paget, for $955,000.
Mr Ebert said Mackay has been an important regional market in the national growth and success of Sentinel over the past decade and the company had tremendous confidence in the region’s economic future. He said Mackay’s 2.6 per cent unemployment rate had made it the envy of Queensland.Download the Article