78 Mcminn Street

Darwin City NT 0800

The property has two substantial buildings situated on it. Both buildings are somewhat dated but can still be utilised while some investment would need to be made to replace the roof on one of the sheds. The building on the Western boundary is approximately 675sqm and offers a combination of office/showroom space to the front with warehouse storage to the rear. This building is currently vacant. The building on the Eastern boundary is approximately 1,080sqm and again offers a combination of office/showroom and warehouse space. There is also a caretakers residence that sits above this building. Both the office/warehouse and caretakers residence is currently leased. The caretakers currently do not pay rent and the occupant of the showroom/warehouse is currently paying a peppercorn rent.

The two buildings are accessed via a common driveway through the middle of the property and accessed directly off the McMinn Street service road.

The property has had previous development approval on the site which was back in 2011 and the approval was for 150 x 2 bedroom units and 6 x 3 bedroom units in a 18 storey building including three levels of basement parking. This DA has since lapsed however shows the potential density the site could yield when the time is right to develop.

Right now we believe it is a site that can generate some good holding income while offering future redevelopment potential*. It would be attractive to developers, investors and owner occupiers. An owner occupier could use and or modernise the existing improvements to suit their own business.

Certainly when the market is right it could lend itself to a larger scale mixed sue development and would offer great views upon development across to Bayview Haven and over Darwin City and out over Mindil Beach and East Point.

For further information or an opportunity to inspect please contact the Knight Frank office on 08 8982 2500 or Matthew Knight on 0413 058 020 and Michelle McRae on 0448 882 399.

*subject to town planning approvals.