Sentinel Property Group has purchased a 10-storey office building in inner Brisbane for $38.7 million.
Following the $48 million sale of a property in the inner Brisbane suburb of Milton is the sale of a tower in the nearby suburb of Spring Hill at 200 Creek Street. It was sold for $38.7 million by the Centuria 200 Creek Street Fund, which is managed by Centuria Property Funds, which own and manage a portfolio with a value of approximately $1.5 billion.
The purchaser was the Sentinel Property Group, a leading property investment firm which focuses mainly on commercial property investments, although they also own and manage retail, industrial, land and tourism assets in Queensland, New South Wales, the ACT, Victoria and Western Australia. Sentinel is listed on the ASX and led by CEO, Warren Eburt.
According to Brisbane Fringe Cityscope, 200 Creek Street is a 10-storey office building with basement car parking which was completed in 1995 as part of the Times Square development. The A-grade building has a net lettable area of around 7,656 sqm, which includes 847 sqm of ground floor retail space. Its tenants include Ramsey Health Care, Citadel Group, Healthy Waterways and Futuro Financial Services.
The building last traded at $35,716,577 in 2010.