This article is from the Australian Property Journal archive
SENTINEL Property Group has secured a multi-tenanted industrial complex in Toowoomba for $11 million, as the group continues to grow its Queensland portfolio.
The warehouse and office complex at 7-9 Gardener Court, Wilsonton, is the first property in in Queensland’s largest inland city purchased by Sentinel.
“Sentinel is delighted to acquire our first property in Toowoomba for the Sentinel Industrial Trust, an outstanding portfolio which includes assets in Mackay, Townsville, Brisbane, Mayfield in Newcastle and Tuggerah on the NSW Central Coast,” said Warren Ebert, CEO and executive chairman at Sentinel.
The facility sits on a 16,800sqm site, with 7,305sqm of lettable area and a WALE of 3.96 years.
“We believe this was an excellent investment opportunity to secure a tenanted property in the Wilsonton industrial precinct in Toowoomba with direct access to Boundary Street and the Toowoomba Second Range Crossing,” said Ebert.
The asset boasts defensive tenancy mix across the mining, agriculture, logistics, engineering and construction sector. Major leases at the site are signed with FKG, Aramex, Apiam, Supercharge Batteries and Sunpork.
“Wilsonton is close to the Toowoomba Enterprise Hub, which is one of the most significant transport, logistics and business hubs in Australia, encompassing Wellcamp International Airport as well as major multi-modal freight facilities,” added Ebert.
Ebert also pointed to the hefty development pipeline in the Toowoomba region, with nearly $600 million in infrastructure, commercial, industrial and residential developments underway in 2021.
The group recently secured a Coles-anchored neighbourhood shopping centre in Moranbah, in regional Queensland for $28 million.
While in Canberra, Sentinel added the nation’s control centre for the COVID response, the 16,755sqm the 14-level, A-grade Scarborough House building, to its portfolio for $83 million and in Darwin the group made a $4.5 million purchase of a prominent retail showroom and warehouse investment.
