This article is from the Australian Property Journal archive
SENTINEL Property Group has paid $10.35 million for a freestanding Big W property at Atherton in North Queensland.
Located in the township of Atherton, approximately 80km south-west of Cairns, the property is fully leased to Big W until March 2021 with options until 2041.
It features a lettable area of 4,480 sqm plus 173 car bays on a 1.113ha site at 8-20 Mabel St.
Sentinel managing director Warren Ebert said the Atherton acquisition further strengthens the group’s presence in key locations in central and North Queensland. Sentinel is the largest private owner of commercial property in the Mackay region, with six retail, industrial, office and land assets, and also owns two shopping centre properties in Emerald.
“We have a positive outlook for the key regional centres of North Queensland and have identified Atherton as a strategic investment location and maturing retail hub for the Atherton Tablelands.
“Big W complements this with a well-established discount department store offering for Atherton and the surrounding area. It is a high performing store that it is trading 57% above the industry benchmark with limited threat of new competition in the trade area and we believe it is well positioned for continued growth,” Ebert said.
Australian Property Journal
