ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Sentinel Acquires Prime Industrial Site in Pinkenba

4761261_square-12_620x380

Brisbane-based Sentinel Property Group has spent $48.5 million in acquiring a major industrial investment within the prime Australia TradeCoast precinct at Pinkenba.

The waterfront bulk storage industrial facility located on a 14 hectare site at 69 Tingira Street was purchased in a leaseback arrangement with industrial chemical company Incitec Pivot Pty Ltd.

“This site offers unique ongoing investment potential with core bulk storage and liquid storage assets in low supply throughout Brisbane, particularly when coupled with direct river access,” Sentinel managing director Warren Ebert said.

“Recent sales of industrial facilities have reflected yields in the range of 5.5 per cent to 7.5 per cent. This property is being purchased at a passing net yield of 8.2 per cent.

“This is also one of very few sites with wharf access in Brisbane that can accommodate Handymax class vessels of up to 188m long and 34m wide and capable of both liquid and bulk cartage.”

[Related reading: Investment Appetite in Industrial Markets Remains Firm]Ebert said it was an ideal time for Sentinel to purchase in the Australia TradeCoast precinct as it is a tightly held market due to the lack of available land.

“The proximity to Brisbane Airport, Port of Brisbane and major transport infrastructure continues to drive demand in this precinct,” he said.

“There are also some major infrastructure projects in play with Brisbane Airport Corporation funding over $2.5 billion worth of infrastructure over the next 10 years to keep up with the city’s growing demands.

“The Port of Brisbane is one of Australia’s fastest growing container ports and Queensland’s premier multi-cargo port, handling almost $50 billion in trade annually.”

The Pinkenba property, purchased through Colliers' Anthony White and Simon Beirne added to Sentinel’s pooled Industrial Trust portfolio which includes properties at Mayfield in Newcastle, Oxley in Brisbane and Paget in Mackay.

Sentinel Property Group has a total national portfolio of more than 40 retail, industrial, office, land, tourism infrastructure and agribusiness assets in Queensland, New South Wales, Victoria, Western Australia, the Australian Capital Territory and the Northern Territory with a total value in excess of $1 billion.

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://https://theurbandeveloper.com/articles/prime-industrial-site-sold-sentinel-48-5-million