The property is zoned Tourist Commercial (TC) under the Northern Territory Planning Scheme. An Exceptional Development Permit (EDP) number EDPI 15/0012 was approved and varied in 2015 for the purpose of a mixed use development comprising of 261 multiple dwellings/serviced apartments/hotel rooms, commercial uses including shops, restaurants and bars in 3 x 8 story buildings and a single level child care with associated car parking.
The property is being sold with EDP in place together with the architectural plans for the development which is the first 8 storey building ever to be approved in Alice Springs.
The size of Alice Springs is approximately 1.3 square kilometres. It has 5 parks covering nearly 14.6% of total area. The population of Alice Springs in 2011 was 347 people. By 2016 the population was 294 showing a population decline of 15.3% in the area during that time. The predominant age group in Alice Springs is 40-49 years. Households in Alice Springs are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Alice Springs work in a professional occupation. In 2006, 11.1% of the homes in Alice Springs were owner-occupied compared with 2.5% in 2011..
Alice Springs has 762 properties. Over the last 5 years, Houses in Alice Springs have seen a -2.36% decrease in median value, while Units have seen a -18.83% decrease. As at 31 August 2024:
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