Sen­tinel Prop­erty Group is look­ing to ex­pand its port­fo­lio of Dar­win prop­er­ties

NT News - - NEWS - ASH­LEY MANICAROS

A PROP­ERTY group which has spent more than $100 mil­lion in Dar­win in the last 12 months is look­ing at other prop­er­ties in the North Aus­tralian cap­i­tal.

Sen­tinel Prop­erty Group pur­chased the fully leased Arn­hem­ica House in Parap for just un­der $9.5 mil­lion to add to its Dar­win port­fo­lio of Ja­cana House — bought in June this year for $60.75 mil­lion — and the $34 mil­lion CasCom business park in Ca­sua­r­ina pur­chased in De­cem­ber 2016.

Sen­tinel man­ag­ing di­rec­tor War­ren Ebert, in Dar­win to in­spect the port­fo­lio, said the prop­erty group was look­ing at more ac­qui­si­tions.

“There is at least one prop­erty we are in­ter­ested in but we are work­ing through the due dili­gence so I am not in a po­si­tion to dis­close the full de­tails,” he said.

“But we are a be­liever in the mar­ket in North­ern Aus­tralia, as we are be­liever in the de­vel­op­ment of North­ern Aus­tralia.

“In Dar­win, it is our view the mar­ket has bot­tomed and we think now is the right time to in­vest, be­cause the fu­ture looks very bright. We have of­ten in­vested in ar­eas that ap­pear out of favour with buy­ers.

“In the last few months, we have sold prop­er­ties in Sydney and Mel­bourne be­cause they are boom­ing and used those funds to buy prop­er­ties in North Aus­tralia.”

Mr Ebert said the ex­pected De­fence spend was an area for op­ti­mism.

Es­tab­lished in 2010, Bris­bane-based Sen­tinel has a to­tal national port­fo­lio of more than 40 re­tail, in­dus­trial, of­fice, land, tourism in­fra­struc­ture and agribusi­ness as­sets in Queens­land, New South Wales, Vic­to­ria, Western Aus­tralia and the Aus­tralian Cap­i­tal Ter­ri­tory.

Mr Ebert was on his way to Cairns af­ter in­spect­ing all of his Dar­win port­fo­lio unan­nounced.

“When I visit a prop­erty, I re­ally pay at­ten­tion to what the re­cep­tion­ist has to say and I make sure the lit­tle things are done right, like the job the clean­ers do,” he said. “You can’t un­der­es­ti­mate how im­por­tant it is to have clean toi­lets in a com­mer­cial prop­erty.”

Pic­ture: SUP­PLIED

Sen­tinel Prop­erty Group man­ag­ing di­rec­tor War­ren Ebert is look­ing at more in­vest­ments in Dar­win

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