[b][BRISBANE, 23 DECEMBER 2015][/b] – Sentinel Property Group, a leading property investment firm, prompts better investments by purchasing the City West Plaza homemaker centre in Melbourne. The company made this strategic business move in the wake of strong consumer spending tipped to invite more investors with the hope of bidding up asset prices in the next two years.

Sentinel, led by Warren Ebert, purchased the Harvey Normal anchored plaza in Sunshine North for $29.5 million for the Sentinel Homemaker Trust. This is the property group’s seventh transaction within the retail sector for the year. The company focuses on numerous commercial property investment opportunities, including self-managed superannuation fund (SMSF) property investment.

[b]More about the Deal[/b]

The recent plaza purchase is Sentinel’s second acquisition in Victoria. The company also owns 138 Burke Street, which is currently leased to the Virgin Active health club. The plaza is the third property for the Homemaker Trust after their recent settlements on the Nowra House and Home Centre in NSW and the Geraldton Homemaker Centre in Western Australia.

CBRE’S Justin Dowers also negotiated the deal. Retailer Harvey Norman’s 10-year lease expires in 2022, which also accounts for about 41 per cent of the centre’s overall gross income.

[b]Growing Rates in the Retail Sector[/b]

According to research director Ian Shimmin, from consulting firm Urbis, household goods sold in homemaker centres contributed to the highest growth rate within the retail sector. Victoria and NSW were amongst the outstanding performers, growing at 12.6 per cent and 11.8 per cent respectively. The company attributes the sudden growth to home construction, as homemakers were willing to spend more on house ware, electronics and coverings.

Improved customer sentiment, according to Shimmin, will most likely drive up retail property prices in the next two years, which will result in tighter yields.

The acquisition is a part of the company’s efforts to improve their portfolio to create more opportunities for interested investors.

[b]About Sentinel Property Group[b]

Sentinel Property Group, one of Australia’s investment firms, focuses on investment opportunities in the commercial property market. The company’s trusts are one of the best-performing trusts in the country and are ideal for SMSF investors.

Sentinel delivers numerous opportunities for investors through strategic property purchases, identification, and hands-on asset administration.

For more information, clients can visit their website at http://www.sentinelpg.com.au.