The Sentinel Regional Office Trust has purchased a fully leased, A-Grade, 9 story commercial office building within the Darwin CBD, completed in 2009 offering net lettable area of 10,182m² with 124 car park bays (1:82m²).
The property is one of the top two office buildings in Darwin and, the only 5.5 Star NABERS Energy rated and 4.5 Star NABERS Water rated building (5 Star Green Star design and 4 Star Green Star “as-built”).
98% leased to Federal Government and National tenants with a strong WALE (weighted by income) of 6.30 years. Passing net income of $5,046,861, equating to a passing yield of 8.31%.
Darwin is set to benefit from $5 billion of Federal Government funding from Northern Australia Infrastructure Facility to stimulate development in the region.
In addition, the US Navy is increasing its presence in Darwin, with 2,500 personnel expected to be stationed at the Robertson Barracks by 2020.
The addition of Jacana House to the Sentinel Regional Office Trust takes total Assets Under Management to circa $184 million.
Sentinel Regional Office Trust is an open ended Pooled Office Trust also compromising of 11 Argyle Street Newcastle, CasCom Darwin, 200 Creek Street Brisbane, 8 Buller Street Port Macquarie, 139 Grafton Street Cairns and Arnhemica House Darwin.