One of the Northern Territory’s premier licensed clubs, Casuarina All Sports Club, has been bought for $17.15 million by Sentinel Property Group.
Sentinel Property now expands its footprint in Casuarina Square, Darwin’s largest shopping centre precinct, with the purchase of the adjoining property which is fully leased to Casuarina All Sports Incorporated until July 2030. Sentinel purchased Casuarina Square earlier this year for $418m.
Established in 1995, the Cas Club was the winner of the 2015 AHA (NT) Aristocrat Technologies Awards for Excellence for Best Club Gaming Venue and Best NT Keno Venue. The fully air-conditioned club sits on 8310sqm and features 55 EGMs, as well as Keno and full TAB facilities.
Cas Club will be part of Sentinel’s Casuarina Investment Fund which also includes the shopping centre. The Sentinel Regional Office Trust also owns the adjoining CasCom Centre, a six-building business park on a 19,000 sqm site.
“The club is very well located adjacent to Casuarina Square and the Cascom Centre, which is the main commercial precinct located outside of the Darwin CBD,” Sentinel CEO Warren Ebert said.
He described Casuarina Square as “irreplaceable” and a “once in a generation opportunity” and said the acquisition of Cas Club was a part of Sentinel’s long-term plans to develop Casuarina into a town centre and expand the already substantial retail component to also include residential developments such as student, senior or worker accommodation.
“Casuarina Square completely dominates its market and receives more than eight million visitors a year,” he said.
“We have identified a tremendous opportunity to add value to the complex and grow Casuarina Square as both a retail centre and an employment node. Part of these plans has been seeking approval to move the Casuarina bus interchange to free up an area of approximately 54,000 sqm for redevelopment.
“Darwin is undergoing enormous change including development and ongoing infrastructure works as the population continues to grow which is attracting considerable investor interest, particularly in the main commercial precincts of Darwin and Casuarina.”