SOLD
Sold on 02 Apr 2024 for $2,655,000

40 Progress Drive
Nightcliff NT 0810

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 357m2
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Property Details for 40 Progress Dr, Nightcliff

Building Type
Commercial
Land Size
357m2
Local Government
Darwin
Lot/Plan
Loc 550 Lot 538/A 000144

Last Listing description (July 2024)

Three levels of prime commercial real estate located in the Nightcliff Shopping Village. The Nightcliff Village is a bustling centre with more than 30 specialty shops and offices and over 100 car spaces. On Sunday, the Village is the site of the iconic Nightcliff markets. Current commercial tenants at the Village include Nightcliff Supermarket, Post office, NT Police, Nightcliff Library, Salvos, Tax Agents and Bendigo & Adelaide Bank. It is also the home for take-away foods, cafes, restaurants, dentist, podiatrist, barbers, waxing, nails, clothing stores and more.

Across the road from the Village is the John Stokes Square Development which features a 24 hour Police Station, and specifically designed public housing for seniors and people living with disabilities. Included in the project is a pedestrian-friendly link between Nightcliff Village and Nightcliff Shopping Centre.

The subject property is located on the western corner of 40 Progress Drive and the courtyard in which the iconic Nightcliff markets are held. The property comprises three levels of shops and offices, with access to W/C on each floor. The area under title is 357m2.
Ground Floor

Shop 1 -150m2 approx tenanted by Bendigo Bank.
Shop 2(a) & Shop 2(b) - 150 m2 approx tenanted by Sea Breeze Restaurant/ Caf.

1st Floor
Office 1 - 150 m2 approx tenanted by The Tax Shop.
Office 2 - 150 m2 approx tenanted by The Tax Shop.
2nd Floor
Office 3 - 150 m2 approx tenanted by Tara Academy Darwin - dance studio.
Office 4 -150 m2 approx currently vacant office fit out.

Now is a great time to buy commercial property in Nightcliff. Take advantage of this rare opportunity to secure 3 levels of commercial property in Nightcliff Village complex.

For more information or to arrange an inspection, please contact agent.

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Property History for 40 Progress Dr, Nightcliff, NT 0810

A timeline of how this property has performed in the market
Last Sold
$2,655,000
02 Apr 2024
  • 02 Apr 2024
    Sold for $2,655,000
  • 06 Jul 2022
    Listed for Sale Contact Agent
  • 01 Apr 2014
    Sold for $3,000,000

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About Nightcliff 0810

The size of Nightcliff is approximately 1.5 square kilometres. It has 6 parks covering nearly 6.5% of total area. The population of Nightcliff in 2011 was 3,654 people. By 2016 the population was 3,838 showing a population growth of 5.0% in the area during that time. The predominant age group in Nightcliff is 30-39 years. Households in Nightcliff are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Nightcliff work in a professional occupation. In 2011, 46% of the homes in Nightcliff were owner-occupied compared with 40.4% in 2016.

Nightcliff has 2,197 properties. Over the last 5 years, Houses in Nightcliff have seen a 43.64% increase in median value, while Units have seen a 39.69% increase. As at 30 November 2024:

  • The median value for Houses in Nightcliff is $786,111 while the median value for Units is $358,269.
  • Houses have a median rent of $620 while Units have a median rent of $485.
There are currently 15 properties listed for sale, and 18 properties listed for rent in Nightcliff on OnTheHouse. According to CoreLogic's data, 103 properties were sold in the past 12 months in Nightcliff.

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