Chin Property Group are proud to offer to market for sale by Expressions of Interest closing 21st March 2023, the freehold interest in 40 Parap Road, in addition to the sale of the well-renowned and highly regarded ‘Parap Fine Foods’ business, to be sold as a going-concern.

This is a highly unique offering and is the first time in over 50 years that the property and business will change hands. This investment grade asset is dipped in a rich history and is sure to pique the interest of astute investors, developers and owner-operators alike.

Improvements are constructed upon a 650sqm land parcel and is located in the heart of Parap Village, benefitting from very high exposure to both vehicular and pedestrian traffic. Parap Village is the neighbourhood centre of Parap, a beautiful suburb just out from the CBD, offering residents and visitors around 50 businesses, including doctors surgery, post office, newsagency, physiotherapist, hairdressers, pharmacy and fresh produce from the shops, butchers and bakery.

Parap is culturally significant, with four distinct Art Galleries representing contemporary arts and traditional artefacts of Aboriginal, Tiwi Island and Australian craft.

The property comprises a mixed-use complex comprising retail, office and residential uses which was originally constructed circa 1983 and extensively refurbished over the years.

The property has an approximate lettable area of **764sqm, being anchored by the Parap Fine Foods supermarket tenancy, which comprises approximately 260sqm and reflects c.34% of the complexes total lettable area. The tenancy comprises an extensive fitout which will be included within the sale of the business.

Further information on the fitout may be provided upon request. The property further benefits from a valuable and no-longer available takeaway Liquor License.

In its current configuration, the subject property presents with 5 tenancy areas. Ground level comprises LZH Butchers and Parap Fine Foods, with Angus & Associates and Darwin Remedial Massage on Level 1 which further includes a two-bedroom apartment.

The property is zoned “Commercial” under the Northern Territory Planning Scheme and falls under the Darwin Inner Suburbs Area Plan.
The property represents the opportunity for asset repositioning, including negotiating lease renewals with long-standing tenants.

For more information or to organise an inspection, please contact Seth Chin on 0411 178 8... or Victor Harris on 0412 154 121.

* The advertised Expression of Interest campaign may be subject to change and without prior notice.
** All areas and measurements provided are approximate only.