Mair Property Funds has spent $12.41 million on a distribution centre leased to Timberlink for its new MPF Diversified Trust No 3. The vendor, Sentinel Property Group, paid $10.1m for 13 Modal Crescent, Canning Vale, in December, 2017, for its Sentinel Industrial Trust. The 1.9 hectare holding includes a 5477 square metre fully sprinklered warehouseRead more
Sentinel Property Group has sold City West Plaza in Melbourne’s west to Cadence Property Group and Assembly Funds Management, the latter an entity part-financially backed by Sydney-based Westfield co-founders, the Lowy family. The Sunshine North homemaker centre at 484-486 Ballarat Road is trading for $39 million following an off-market deal negotiated by JLL’s Stuart TaylorRead more
EXCLUSIVE Sentinel Property Group and Ascot Capital Limited have sold a new purpose built industrial warehouse in Brisbane’s south Crestmead. On a 1.76 hectare site at 102-108 Magnesium Drive, the 10,159 square metre facility – 1348 sqm of which is mezzanine warehouse space – is trading for $15.5 million. The investment was offered with aRead more
Ascot Capital is paying $37.9 million for a Port Macquarie office with a long lease to Essential Energy. The asset, 8 Buller Street, was offloaded by Sentinel Property Group which paid $20.6 million in January, 2017. A subsequent renovation improved the building quality to A-grade. Sentinel PG re-offered the office for sale after securing theRead more
Sentinel Property Group is paying $103 million for a B-grade Brisbane CBD office. Makerston House, in the city’s North Quarter, is Sentinel’s most valuable property purchase since forming in 2009. It will be added to the Sentinel Regional Office Trust, alongside nine other investments worth about $350 million, in New South Wales, Northern Territory andRead more
Sentinel Property Group is paying $23.3 million for a Bunnings-anchored homemaker centre near Newcastle. The 4.6 hectare site, containing a 17,171 square metre facility of which Bunnings occupies 77 per cent, will be put into Sentinel’s (Open Ended) Homemaker Trust. The other occupants include BCF, Dons Tiles and PETstock. Based on the annual rent theRead more
SENTINEL Property Group has paid $15.6 million for the Northpoint Homemaker Centre in Mackay, Queensland.
The purchase is the second bulky goods complex acquired by the group in the state after it paid $25.75 million last December for The Zone complex at Rothwell.
The Mackay investment occupies a 29,191 square metre site, and has 11,407 square metres of net lettable retail area. It is leased to ten retailers including the listed Super Retail Group and The Good Guys.
The vendor according to the AFR which reported the deal was the 360 Capital Retail Fund.Read more
SENTINEL Property Trust has paid $18 million for an industrial building in Archerfield, Brisbane. The fully leased, 14,000 square metre development was acquired by BlueScope Steel, who have signed a 15-year lease back for the property. Sentinel is reported by the AFR to have purchased the property on an 8.5 per cent yield.Read more
Cadence Property Group has paid $10.5 million for a south west Brisbane industrial property it plans to upgrade while offering for lease. The 8.6 hectare Redbank factory at 36-48 River Road will be held by the new CPG FM02 Property Trust. It is located within an e-commerce hub, walking distance to the train station, about 25 kilometresRead more
Charter Hall managed Long WALE Investment Partnership (LWIP) is paying $19.7 million for a Darwin hotel owned for over 70 years by the Dowling family. Parap Tavern at 15 Parap Road, Parap, is tenanted to Woolworths backed ALH Group for 14 years. With options, the occupier can stay until 2084. The sale price reflects aRead more
EXCLUSIVE Charlie Buxton’s Cadence Property Group has purchased the Spotswood Animal Quarantine Station for $14 million. The 3.8 hectare site at 43 Craig Street was occupied by the federal government’s Australian Quarantine and Inspection Service from the 1950s until eight months ago when operations were relocated to a 144ha Mickleham facility, in Melbourne’s north. GlynRead more
Fourteen months after it listed the office for sale, City of Brisbane Investment Corporation has found a buyer for its South Regional Business Centre in Yeerongpilly. The seven year old uber-green commercial building traded for $35.25 million – the upper end of the vendor’s expectation. The purchaser is Ascot Capital which last month sold anRead more
Listed hardware retailer Bunnings is selling a one-month old outlet in Melbourne’s burgeoning south east. The Clyde North warehouse could fetch more than $35 million, which would reflect a passing yield of 5.4 per cent, or less. The asset is the first metropolitan Melbourne Bunnings to hit the market since 2015. On a 3.765 hectareRead more
Postscript: PGA Properties paid $53.5m for this investment in March, 2020. RG Property is selling an office in the Brisbane CBD’s financial precinct – dubbed the Golden Triangle. More than $50 million is expected for the 14-level building at 410 Queen Street. RG Property acquired the investment in 2011, later undertaking a major capex workRead more