Sentinel invests again in Darwin
Elanor Investors Group has sold Sentinel Property Group two neighbouring large scale assets within the Darwin Business Park at East Arm, for $57.4 million.
The bigger property, 31 O’Sullivan Circuit, spreads 8.44 hectares with three cold storage warehouses built about 20 years ago.
Also with offices, two are connected via a breezeway.
The block also contains significant hardstand.
Team Global Express and the Department of Home Affairs are the occupiers.
The second property, 21 O’Sullivan Cct, spreads 4.45ha with a c2005 temperature controlled warehouse, associated office, and hardstand, leased to Toll Energy.
The blended weighted average lease expiry is 5.47 years.
Sentinel has held the city’s enormous Casuarina Square since late 2021.
“Darwin continues to be a key strategic location for Sentinel,” chief executive officer, Warren Ebert, said.
“We are long in the Northern Territory – it is the closest port to Asia, has significant resource activity and a growing defence presence,” he added
JLL’s Ben Hegerty and Hoel Scully with Colliers’ Gavin Bishop, Sean Thomson and Mark Jagla were the agents.
The master-planned East Arm estate is between Darwin and Palmerston.
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