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NTC Property - DARWIN CITY

2 Palmerston Circuit Palmerston City, NT 0830

Directions

2 Palmerston Circuit,
Palmerston City, NT 0830

Shop & Retail • Showrooms & Bulky Goods • Development Sites & Land

Price information

Sale - Expression of Interest

Expression of Interest

Key property information

Land area

Floor area

Car spaces

Parking info

Zoning

Tenure type

Tenanted Investment Details

Occupancy
Fully Leased
Est. Incomep.a.
$982,721
Number of Tenants
1 Tenant

Private inspections

to arrange a private inspection.

Map of 2 Palmerston Circuit

Directions
  • Bus stops within 5 km of 2 Palmerston Circuit, Palmerston City, NT 0830Distance
    Palmerston Interchange245 m
    Palmerstond306 m
    The Boulevard347 m
    OP Gateway Shopping Centre393 m
    Coles Palmerston503 m
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POWERED BY HERE ©

Every Renovator's Dream!!!

  • Substantial Holding Income
  • Large Landholding
  • Central Business Zoning
2 Palmerston Circuit is undoubtedly one of Palmerston CBD's most recognisable properties. Located on an extremely prominent corner location, the site benefits from 5 street frontages.

The property has accommodated Bunnings for almost 15 years, however, Bunnings has outgrown the site and relocated to larger premises.

The property is currently leased to Bunnings until 12 June 2021 with a further 3 x 5 year options however Bunnings have vacated and advised they will not be renewing their lease. Current net income is $982,721.38 per annum.

The property is to be sold with vacant possession with a residual lease in place and make good obligations to occur closer to lease expiry.

It is extremely unusual for a Bunnings to be located in a Central Business zoned area as it may not necessarily be the best and highest use given high rise development can occur on the large 19,500sqm site (subject to DCA approval).

An ideal purchase for investors, developers and owner occupiers. The property's unique features are as follows:

- Prominent 19,500sqm corner location
- Flexible CB zoning
- 5,094 main showroom
- 1,455sqm trade area
- 1,830 outdoor nursery with awning
- 197 on-grade carparks

The property has numerous opportunities including but not limited to leased 'as is', improvements split up to offer smaller tenancies, improvements repurposed to provide different offering, improvements relocated or demolished, future high-rise development or the site land-banked, etc..

Expression of Interest closing 4pm 3rd December 2020.

For further information or to arrange an inspection, please contact exclusive agent Nigel Sharp at NTC Property on 0422 275 920.

Property ID: 503694622Last Updated: 15 Jan 2021

0422 *** ***
NTC Property - DARWIN CITY
2 Palmerston Circuit
Palmerston City, NT 0830

NTC Property - DARWIN CITY

GPO Box 1062
DARWIN CITY, NT 0800

Agency contacts

NTC Property - DARWIN CITY
NTC Property - DARWIN CITY
GPO Box 1062
DARWIN CITY, NT 0800
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Send to:

Nigel Sharp
NTC Property - DARWIN CITY
2 Palmerston Circuit Palmerston City, NT 0830

Hi,
I’m interested in this property. Could you please provide me with more information.

Kind Regards,

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