Casuarina Square investors come to town to inspect Casuarina Square

Sentinel and its investors paid $400m for Casuarina Square. Now they’re coming to town to see what they bought. READ THE FULL INTERVIEW

THE new owners of Casuarina Shopping Square are leading an investment roadshow into the Territory with up to 50 millionaires travelling to Darwin to inspect their blue-chip purchase.

Brisbane property developer and investor Warren Ebert approached previous owners GPT with a purchase offer last year and the $400m sale was finalised in February.

Dozens of investors participated in the purchase and many of those will be in Darwin on Wednesday in time for a tour of the centre tomorrow.

Sentinel director Michael Sherlock said Covid-related travel restrictions limited access to Darwin when the purchase was being planned.

He said the value of the asset persuaded many to invest sight unseen.

“It was quite a task to complete the acquisition during Covid times,” Mr Sherlock said.

“The investors weren’t able to get people to the Territory, only Queenslanders were able to visit and this is a gamble when they’re promising to spend money.

“It’s a chance now for investors from New South Wales and Victoria to come and inspect what they’d invested in.

Casuarina Square

“They’re so excited they’re jumping out of their skins to get to Darwin and see what they bought. They’re really passionate about this purchase and they’re jumping out of their skins to get to Darwin and look at other investment opportunities.

“We want to showcase all there is to see in terms of lifestyle and investments in Darwin.”

While reluctant to reveal the identity of the millionaires who got behind the project, Sentinel believes the investor caravan will open up further interest in Darwin from cashed-up potential interstate buyers.

“There’s some really big hitters who have an eye for a solid investment.”

The visitors will be transferred to Casuarina Shoppng Square by bus Wednesday morning and will spend two hours at the centre sampling food and beverage options as well as visiting some of the 190 stores at the complex.

They will then head to Casuarina Club to be treated to a lunch of wild-caught barra and other tasty Territory-grown produce.

“It’s the best barramundi anywhere in Australia,” Michael Sherlock said.

Infrastructure NT freight and logistics senior director Tracey Lines will be a guest presenter.

Other guests include Environment Minister and Casuarina MLA Lauren Moss, Ashley Heath from Ward Keller and Lily North from Belong Group.

After returning to the CBD the visitors will have some time in town before an evening meal at the Noodle House.

Since the purchase was finalised, Sentinel’s priorities have been tackling anti-social behaviour in and around Casuarina Square and working with the NT Government and Council to relocate the bus terminus at the rear of the complex to further along Trower Road.

Going forward, Warren Ebert hopes to develop Casuarina Square into a town centre that will provide residential and lifestyle choices for residents and visitors.

Sentinel has invested heavily in the Top End over the past couple of years including purchasing the Cascom building and Wishart cold stores.

Mr Ebert will hold his first meeting with new Chief Minister Natasha Fyles tomorrow.

Originally published as Casuarina Square investors come to town to inspect Casuarina Square