Sentinel invest $37m in Hemmant
Shortly after selling an industrial asset in Hemmant, Sentinel have acquired a new asset just 1500metres away in Anton Rd. The 6.4ha fully leased site was sold to Sentinel by a private owner for $37.7m, reflecting a yield of 8.0%.
The site has a 110m frontage to the Brisbane River and comes with a rare 31,500sqm wet lease. The site is used to deliver sand from Morten Bay to a concrete batching facility operated by Boral, Holcim and Hanson.
In June, Sentinel sold a vacant 4.8ha site at 46 Gosport Rd Hemmant to Centuria for $17.0m, reflecting a value of $354/sqm. The recent acquisition by Sentinel, which was brokered by Knight Frank, reflects a value of $592/sqm.
Knight Frank are currently marketing another 1.6ha waterfront site at 34 Wyuna CourtHemmant with a 6,500sqm wet lease.