The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
IndustrialWed 13 Dec 17

Sentinel Continues March West with First Foray into Perth

836e3d15-8060-451a-8e65-3b62e6a0d2fd

Sentinel Property Group has continued its march towards a multi-billion dollar property portfolio with the recent acquisition of an industrial facility in Western Australia.

The Brisbane-based group has purchased a 18,771 square metre warehouse and office building in Canning Vale, an industrial precinct on the southern edge of Perth.

The facility is fully leased to Timberlink Australia, a subsidiary of New Forests and was purchased from Warrington Property for $10.1 million, reflecting a net passing yield of 9.9 per cent.

The move represents Sentinel's first foray into Perth and third investment in Western Australia. Previous acquisitions include the Geraldton Homemaker Centre - bought for $27.3 million in 2015 - and the Port Hedland Boulevard Shopping Centre - purchased for $17.5 million for last year.

Sentinel Managing Director Warren Ebert signalled his intentions to secure more commercial assets in Western Australia.

“The WA industrial market continues to experience strong demand from domestic and international investors for investment grade industrial assets,” he said.

[Related reading: Sentinel Acquires Prime Industrial Site in Pinkenba]

Located 13 km south of the Perth CBD, the property was constructed in 2007 and comprises a 5,477 square metre warehouse with a 2,296 square metre awning, along with a significant hardstand component, office building and 62 car spaces.

The move coincides with a recent sell-down of about $50 million in neighbourhood shopping centres amid speculation that Sentinel is cashing out at the peak of the market.

The group has also continued its push into regional Australia by splashing out $100 million in Darwin by purchasing the fully leased Arnhemica House in Parap for $9.5 million, Jacana House for $60.75 million in June 2017 and CasCom business park in Casuarina for $34 million in December 2016.

IndustrialAustraliaPerthReal EstateSector
ADVERTISEMENT
TOP STORIES
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
View All >
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
Charter Hall’s $925m Hyde Park skyscraper
Planning

Charter Hall $925m Sydney Skyscraper Wins City Backing

Vanessa Croll
The 55-storey hotel and apartment scheme in Hyde Park has won planning committee backing, now awaiting state sign-off...
LATEST
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
2 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Charter Hall’s $925m Hyde Park skyscraper
Planning

Charter Hall $925m Sydney Skyscraper Wins City Backing

Vanessa Croll
3 Min
Industrial

Cadence Nabs Logistics Portfolio for $170.5m

Taryn Paris
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/sentinel-continues-march-west-with-first-foray-into-perth