Warren Ebert’s Sentinel Property Group has cut ties with its only asset in Queensland’s largest inland city.
The Brisbane-based fund manager has offloaded a multi-tenanted office-warehouse complex in Toowoomba for $16.25 million, booking a gain of almost 50 per cent on the price it paid.
Sentinel acquired the asset in 2021 for $11 million from construction and engineering company FKG Group.
In a major industrial precinct, the complex—built in 2005—comprises 11 tenancies on a 16,800sq m site at 7-9 Gardner Court, Wilsonton.
Ebert said the asset had performed well for Sentinel and had been sold to a local private investor.
The deal was brokered through Colliers Toowoomba’s Dan Dwan.
“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,” Ebert said.
“This property offers a net lettable area of 7305sq m and the sale price achieved $2225 per sq m, approximately 48 per cent above the purchase price.”
Its tenancy mix is underpinned by agriculture, logistics, engineering and vet supplies, with several high-profile businesses, including BD Agriculture, CEEM Engineering, Country Vet Wholesaling, Supercharge Batteries and SunPork.
The asset was part of the Sentinel Industrial Trust, which includes assets in Mackay, Townsville, Brisbane, Mayfield in Newcastle and Tuggerah on the NSW central coast.
“This was an excellent investment in the Wilsonton industrial precinct in Toowoomba, with direct access to Boundary Street and the Toowoomba Second Range Crossing,” Mr Ebert said.
“Wilsonton is Toowoomba’s premier industrial hub, where exceptional logistics and connectivity provide an ideal environment for businesses. Toowoomba’s real estate market is diverse with a mix of industrial distribution hubs, business centres, retail outlets and development opportunities.”
