This article is from the Australian Property Journal archive
SENTINEL Property Group has sold its only asset in Queensland’s largest inland city, Toowoomba, offloading a multi-tenanted warehouse and office facility for $16.25 million – almost 50% above what it paid just four years ago.
The complex at 7-9 Gardner Court in Wilsonton has 11 tenancies with a net lettable area of 7,305 sqm, on a 16,800 sqm site.
The tenancy mix is underpinned by agriculture, logistics, engineering and vet supplies tenants, with several high-profile businesses including BD Agriculture, CEEM Engineering, County Vet Wholesaling, Supercharge Batteries and Sunpork.
Sentinel had acquired the property in 2021 for $11 million from construction and engineering company FKG Group, who built the facility in 2005.
“This property has performed well for Sentinel investors but our decision to sell is always based on Sentinel’s strategy of buying at an opportune time and then selling based on our view of the market,” Sentinel CEO, Warren Ebert said.
“Wilsonton is Toowoomba’s premier industrial hub, where exceptional logistics and connectivity provide an ideal environment for businesses.”
The property was part of the Sentinel Industrial Trust, which includes assets in Mackay, Townsville, Brisbane, Mayfield in Newcastle and Tuggerah on the NSW Central Coast.
A local private investor purchased the Wilsonton property through Colliers’ Dan Dwan.
