FRONT PAGE: Sentinel determined to spend $200m on NT properties before Christmas.
October 19, 2020
A LEADING interstate property investment firm wants to invest more than $200 million in Darwin before Christmas.
LEADING interstate property investment firm Sentinel wants to invest more than $200 million in Darwin before Christmas.
The Brisbane-based company has a $1.2 billion property portfolio and is known for its strategic property purchases and hands-on asset administration. Representatives flew into Darwin during the week to look at three key potential investments.
Sentinel Property Group executive chairman and chief investment officer Warren Ebert told the Sunday Territorian the company did not invest in a place it did not believe in.
“We will be buying commercial retail and industrial,” Mr Ebert said. “Hopefully we will get a few hundred million in property before Christmas. That’s our aim.
“We have more than $100 million already invested in Darwin and we want to grow that substantially. We have inspected three attractive assets up here and we are coming back before Christmas and we are very keen to buy.
“We think the Northern Territory has an enormous next decade ahead of it.”
Mr Ebert singled out the agribusiness sector and the minerals and energy sectors as leading the Territory’s surge in growth. “The north has the potential to be a food bowl for Asia and it has enormous mineral and gas prospects,” he said.
“Australians are becoming more Australia aware because of COVID-19 and seeing the country and its opportunities in a different light.
“I think when it settles down Australia will have a couple of years of nil migration, but I think the Northern Territory and Queensland are going to see more people move their way. Forty per cent of our $1.2 billion portfolio, is in the Northern Territory and North Queensland.
“And we have firm plans to increase that weighting.
“We are very keen to invest and we will invest more.
“We are not residential investors, we like office and industrial investments.
“We also have 25 per cent of our portfolio in retail and we have looked at retail up here and I expect we will buy. We need to get scale for that to work. We can’t buy the little neighbourhood centres.”Download the Article