$100M Mackay property mogul slams council

Investment group manager says council standing in way of development

No Caption. Picture: Phil Hargreaves Productions

AN EXPLORATORY visit from property mogul Warren Ebert, who owns at least $100 worth of property in Mackay, has been a backhanded compliment as he told council to get out of the way of developers.

Mr Ebert is the managing director of Sentinel Property Group, a $1 billion investment company, and was in town scouring town for new opportunities, however said there is nothing in their price range and accused council of "getting in the way” of development.

"We like to be buying properties in that $15 million to $30 million range and there's not many properties of that size in Mackay,” Mr Ebert said.

The company is in talks to purchase land in town to develop, in addition to their $15 million Northpoint Homemaker Centre, an industrial trust which is worth nearly $10 million, a retail trust worth $8 million, a Paget trust worth just shy of $10 million, and several others, including The Hub.

"Now we haven't purchased vacant land before, that's normally not what we do, we like to buy existing buildings that are leased but there's not much of that around,” Mr Ebert said.

Mr Ebert said they are directing their investment towards industrial properties because that's where the money is and said the company weren't interested in the CBD, as well as questioned the purpose of the waterfront PDA.

He said the lack of high-density residential and liveable space in the CBD directly contributes towards centres such as Caneland Central.

"That's the trouble, you can't get the density, if you have a look at where your population growth is, it's on the Northern Beaches, so why do you want anything (near town),” Mr Ebert said.

Development Services director Gerard Carlyon said Mackay Regional Council was a forward-looking development-friendly council overseeing arguably the strongest economy in Queensland.

"We have worked collaboratively over the past few years to deliver a new business-friendly planning scheme, a new local government infrastructure plan and the recently declared Mackay Waterfont PDA (priority development area).

"Far from being obstructive, council has one of the strongest development incentive schemes existing anywhere in the country, designed to stimulate growth and create jobs and facilities for local Mackay residents.

Mr Carlyon pointed to current projects, like the recently refurbished Bunnings site, the current refurbishment of the former Masters site, which is nearing completion, as well as expansions of the Northern Beaches and Walkerston shopping centres, which will begin soon.

He said these, as well as new industrial developments under way at Paget and elsewhere, demonstrated the strength of the local economy and positive relationship council and the development industry enjoyed.

Mr Carlyon said traders had provided a range of feedback, much of it positive, since the City Centre revitalisation was completed in 2015 and council's efforts to activate this fresh and vibrant space and boost patronage were ongoing.

"The recently declared Mackay Waterfront PDA (Priority Development Area) is an equally-exciting project, which will help reconnect the City Centre and residents with the waterfront areas along the river and beach-front at Binnington Esplanade.

"Helping facilitate development in the five precincts of the PDA will be a major focus of council for many years to come.

"With the PDA declared, planning can begin in earnest to ensure we have shovel-ready projects suitable for government funding, as well as infrastructure in place to complement private investment in this area.”

While local developer Vic Vassalo admitted that councils and developers in the past haven't focused on the right areas, the waterfront PDA is a step in the right direction.

"At the moment I agree with council that the CBD needs the attention pointed at getting the liveability in the city,” he said.

"It's about having those The Strand-type developments, the waterfront developments that attract people and retains them,” he said, referring to The Strand at Townsville.

"I think that a having a Palm Cove-type development (is possible) but it might be another 10-15 years at Shoal Point Beach but we're not quite there yet.”

"You have to mature enough for that to happen, once we get the city right we'll focus outside ... you need to grow it more, you need to master plan more, you need to make sure there's developments.”

Originally published as $100M Mackay property mogul slams council