35 First StreetKatherine NT 0850
Property Details for 35 First St, Katherine
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
- 10 Jul 2023Sold for $3,000,000
- 30 Sep 2022Listed for Sale Contact Agents
- 13 Jul 2021Sold for $1,350,000
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0About 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 1,225 properties. Over the last 5 years, Houses in Katherine have seen a 10.63% increase in median value, while Units have seen a 10.24% increase. As at 30 September 2024:
- The median value for Houses in Katherine is $346,112 while the median value for Units is $194,753.
- Houses have a median rent of $500 while Units have a median rent of $385.
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