Sentinel makes $70m modular housing play
Warren Ebert’s Sentinel Property Group is moving into modular housing – paying $70 million for a Darwin-based manufacturing business for a fund now seeking investors.
The Northern Australia Manufactured Accommodation Investment Trust was announced this month with a $25m capital raising.
Ebert Investment Group will contribute $10m.
The banks will fund the balance.
The business is believed to be Northern Transportables, with three manufacturing and fabrication facilities, in Darwin, Alice Springs and Adelaide.
Sentinel’s Northern Territory portfolio exceeds $800m, including Darwin’s Casuarina Square.
Earlier this week we reported Wesfarmers backed Built Living would build a modular housing manufacturing plant in Perth (continues below).
Diversified modular business
Based at Darwin Business Park, Northern Transportables designs, manufactures, transports and installs modular buildings, including residential and worker accommodation.
Established in 1987 with a major expansion in 2008, it has won several NT Government contracts including for the HomeBuild remote housing program
In 2020, Northern Transportables was among four NT construction companies awarded contracts totalling almost $69m to build, transport and assemble 134 houses and duplexes.
The company has also worked across the mining, oil and gas, government and commercial sectors, with projects including worker accommodation and mine-site camps.
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