Sideways Surf climbs aboard DFO centre

May 25, 2016

The Cairns Post                                                     

A surf shop is the newest retailer at the DFO Cairns shopping centre.

Sideways Surf has committed to 950sq m of retail space at DFO Cairns on an initial one-year lease with further options. The lease is believed to have been struck at a rental rate of about $180 per sq m net. Sideways Surf has established surf outlet stores in Brisbane, the Gold Coast and Sunshine Coast and its new Cairns store will be its first outside southeast Queensland.

Sentinel Property Group bought the centre for $39.7 million in March. The Brisbane-based group has a national property portfolio of more than $1 billion in total value, comprising 45 retail, industrial, office, land, tourism infrastructure and agribusiness assets in Australia.

It continues to actively grow its presence in North and Central Queensland. As well as the Cairns DFO retail complex, Sentinel also owns a Big W retail property at Atherton, the Port of Airlie Maritime Terminal at Airlie Beach, two shopping centres at Emerald, a shopping centre and industrial property in Townsville and seven retail, industrial, office and land assets in the Mackay region.