Sentinel, Stronghold boost Queensland portfolios
Sentinel has acquired its 10th Townsville asset – an industrial development site at Stuart.
The six hectare block within Mendi Group’s Cleveland Bay Industrial Park, near the corner of Bruce Highway and Southern Port Road, is earmarked for between one and three warehouses.
Given the zoning, part of the parcel could instead make way for a service station.
Sentinel is paying $7.2 million. Burgess Rawson’s Neville Smith was the agent.
The property will be held in the Sentinel Industrial Trust which also controls regional investments at Mackay and Newcastle.
With the purchase, the group’s Townsville portfolio is worth over $100m.
Strongholds spends $66m on offices
Meanwhile, Stronghold has spent $66m for three south east Queensland commercial investments.
The bulk of the outlay – $60m – is to Alceon for neighbouring triple storey offices at Hamilton, the area earmarked for the Athletes Village for the 2032 Olympic games, north east of Brisbane.
Within the Hamilton Northshore business park, one of the assets – 385 Macarthur Avenue – was completed two years ago.
Containing 3568 sqm of A-grade area across three floors, it is fully leased including to Aergo International, Blue Water Shipping and Value Dental Centres (story continues below).
The second property, 389 Macarthur Ave, which is under construction (artist’s impression, top), will include 3592 sqm.
With the acquisitions, Stronghold will control 36 per cent of Northshore Hamilton’s permitted office area.
One of the other assets in the estate – the four storey Chevron headquarters at 365 Macarthur Ave – recently sold for $46.5m.
Hamilton is six kilometres from the CBD.
Seasons IGA HQ sold
At North Lakes, Stronghold has outlaid $6m for the office, part of which dubs as Seasons IGA’s headquarters.
With 868 sqm over two floors, 10/2 Flinders Parade, within the Lakes Vista Office Park, is in a growth corridor 35 kms north of Brisbane and twice that distance south of Maroochydore.
The seller was a private investor.
“These three acquisitions align with Stronghold’s specialist capabilities of owning and operating suburban office and industrial assets,” Stronghold head of funds management, Bruce Anderson, said.
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