OFF MARKET

35 First Street
Katherine NT 0850

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 4049m2
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Property Details for 35 First St, Katherine

Building Type
Commercial
Land Size
4049m2
Local Government
Katherine
Lot/Plan
Loc 425 Lot 519/OP 001441

Last Listing description (March 2023)

Occupying a prominent corner site comprising four (4) allotments and having a total area of 4,049m2, zoned (CB) Central Business.

The property consists of a fifty six (56) room motel, known as the Paraway Motel. Comprising a reception, bar, restaurant, commercial kitchen and manager's flat. Other improvements include in-ground swimming pool, outdoor dining area, landscaped gardens, a large car parking area, boundary fencing and maintenance shed.

The property is subject to a 10 year lease which commenced 14 May 2015 with a current rental of $250,000 per annum (GST Exclusive)

Key Investment Highlights:

* 2,021m2 building area
* 4,049m2 site area
* 3.5 stars rating
* $250k P.A. current rental (exclusive gst)
* Long term lease
* 56 motel rooms
* Zoning (CB) Central Business
* 45 car parking bays

For more information contact Colliers exclusive marketing agents.

Property History for 35 First St, Katherine, NT 0850

A timeline of how this property has performed in the market
Last Sold
$3,000,000
10 Jul 2023
  • 10 Jul 2023
    Sold for $3,000,000
  • 30 Sep 2022
    Listed for Sale Contact Agents
  • 13 Jul 2021
    Sold for $1,350,000
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About Katherine 0850

The size of Katherine is approximately 4.2 square kilometres. It has 9 parks covering nearly 8.1% of total area. The population of Katherine in 2011 was 1,376 people. By 2016 the population was 1,490 showing a population growth of 8.3% in the area during that time. The predominant age group in Katherine is 20-29 years. Households in Katherine are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Katherine work in a professional occupation. In 2011, 42.3% of the homes in Katherine were owner-occupied compared with 43.8% in 2016.

Katherine has 1,224 properties. Over the last 5 years, Houses in Katherine have seen a 16.43% increase in median value, while Units have seen a 28.77% increase. As at 31 October 2024:

  • The median value for Houses in Katherine is $345,369 while the median value for Units is $233,652.
  • Houses have a median rent of $485 while Units have a median rent of $380.
There are currently 21 properties listed for sale, and 9 properties listed for rent in Katherine on OnTheHouse. According to CoreLogic's data, 43 properties were sold in the past 12 months in Katherine.

Suburb Insights for Katherine 0850

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.