Sentinel Property expands Mackay presence with Paget deal

Sentinel Property Group has followed its $280m purchase of Caneland Centre by revealing a massive multimillion-dollar purchase in Paget.

Lots 27, 45 and 52 on Len Shield St, Paget, which was bought by the Sentinel Property Group for $25m. Picture: supplied.

Sentinel Property Group continues to boost its presence in Mackay with the $25m purchase of a leased industrial facility in Paget.

Sentinel bought the Len Shield Street facility over three lots following its recent $280m purchase of Caneland Centre.

The company is still looking to increase its presence in the region.

The Paget facility is leased to Kaefer Integrated Services, the Australian subsidiary of global engineering, construction and mining services company Kaefer Group.

The facility occupies a total building area of 10,400sq m and was bought from a private seller for a passing yield of 8.8%. The property’s land area measurers 41,217sq m and features workshops, offices and nine cranes across the three lots.

Lots 27, 45 and 52 on Len Shield St, Paget, bought by Sentinel Property Group for $25m.

Sentinel CEO Warren Ebert said it was now the major property company in Mackay.

“Mackay has been an important regional market in the national growth and success of Sentinel since we were established in 2010,” he said.

“The company has tremendous confidence in the region’s economic future.

Sentinel Property Group CEO Warren Ebert at Caneland Central, Mackay. Picture: Heidi Petith

“Sentinel’s total portfolio in the Mackay region is circa $563 million, which demonstrates our significant commitment to the region, the community and Sentinel’s expectations for future growth,” he said.

“This outstanding workshop/office facility in Len Shield St is a fantastic asset in Mackay’s premier industrial precinct.”

A spokesman for the company said it was “always looking” for other opportunities in the Mackay region.

Kaefer recently signed a new 10-year lease on its Paget property. The company has operated globally since 1918 and operated in Aus­tralia for 40 years.

Originally published as Sentinel Property expands Mackay presence with Paget deal