Northpoint sells for $15.6m
THE Northpoint Homemaker Centre is in for a makeover as Brisbane-based company Sentinel Property Group has bought the complex for $15.6 million.
Mackay
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THE Northpoint Homemaker Centre is in for a makeover as Brisbane-based company Sentinel Property Group has bought the complex for $15.6 million.
It's a move that is exciting shoppers and long-term tenants.
Resident Jo Harvey said she shopped at the centre's stores often.
"I think there's a lot of variety here," Ms Harvey said.
"It will be good for more businesses to come to the centre.
"I think it will be good for Mackay in general.
"Caneland (Central) had an upgrade so I guess if you want to attract more people to Northpoint you have to maintain it. You can't stop upgrades.
"You just have to go with it and keep up with the times."
The Good Guys Mackay owner John Donnelly said his store was opened at Northpoint Homemaker Centre in May 2002.
"Having new owners will be positive," Mr Donnelly said.
"It will be a good chance to see additions and new features here."
An expansion application had been lodged with Mackay Regional Council and was awaiting approval, Sentinel Property Group managing director Warren Ebert said.
"We'd been tracking the property for a couple of years," Mr Ebert said.
"It had been valued at $25 million so we got a massive discount.
"We've got a number of local investors in the property also."
A new national tenant had pre-committed to the centre, Mr Ebert said.
"We like Mackay. It has a good strong economy."
The group also owned the Birch Carroll & Coyle cinema complex and land adjacent to the Mount Pleasant shopping centre, Mr Ebert said.
"We'll be buying more properties in Mackay.
"Once we identify properties, we're patient," he said.
"We track them and follow the property (before we look at purchasing it)."
Originally published as Northpoint sells for $15.6m
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