84 Mitchell Street,
Darwin City, NT 0800
Hotel, Motel & Leisure
Key property information
Land area
Floor area
Zoning
Sold on
Chin Property Group - CULLEN BAY
20/48 Marina BoulevardCULLEN BAY, NT 0820
84 Mitchell Street
Darwin City, NT 0800
Map of 84 Mitchell Street
Prominent Darwin CBD Motel & Commercial Investment Opportunity
- Opposite the Darwin Entertainment Centre
- Huge Investment Upside Potential
- Diverse Income Streams
Chin Property Group are pleased to present for sale via Private Treaty – 84 Mitchell Street, Darwin CBD.
Included within the sale is the freehold and going-concern interests of the iconic Darwin Poinciana Inn, in addition to a standalone commercial premises currently leased to the well-renowned Noodle House restaurant, and further including The Darwin City Laundromat.
The property comprises a 2,030sqm ‘Central Business’ zoned site boasting a prominent location opposite to the Darwin Entertainment Centre on Mitchell Street and to the corner of McLachlan Street in Darwin’s CBD. The property benefits from its proximity to the Darwin Mall, Esplanade (Bicentennial Park), the Darwin Waterfront, Mindil Beach Casino & Resort, and is a stone’s throw from the core Mitchell Street F&B / Nightlife precinct.
This mixed-use investment opportunity has huge and currently unrealised investment upside potential and is the type of acquisition that is long sought-after but rarely found. This asset is sure to be the cornerstone of any portfolio that could see an astute investor capitalise on returns through simple initiatives such as revamping existing facilities which are presently unutilised, enhancing marketing & operational strategies, and/or striking a long-term lease with a proven operator.
A carefully crafted refurbishment programme has the potential to substantially increase ADR / occupancy levels and position the asset prior to divestment or future redevelopment, for which the site has a current Development Approval for a luxury 200-key 5 star hotel with associated facilities. Alternatively this could be a simple set and forget, with current returns being justification enough.
Key features:
• 52 guest rooms over 4-levels with on-site guest parking and refurbished pool area
• On-site manager’s residence
• Additional revenue streams from the Noodle House restaurant and The Darwin City Laundromat
• Commercial kitchen facilities (currently not in operation)
• 2,030sqm corner site which is zoned Central Business
• Current Development Approval for a mixed-use development including a circa 200 key luxury hotel with associated commercial facilities. The DA is due to lapse in November 2024, however may be extended to November 2026 should works be substantially commenced
This asset has all the fundamentals of a highly lucrative investment with unsurpassed upside potential.
For more information please contact Seth Chin on 0411 178 8... or Victor Harris on 0412 154 1....
Included within the sale is the freehold and going-concern interests of the iconic Darwin Poinciana Inn, in addition to a standalone commercial premises currently leased to the well-renowned Noodle House restaurant, and further including The Darwin City Laundromat.
The property comprises a 2,030sqm ‘Central Business’ zoned site boasting a prominent location opposite to the Darwin Entertainment Centre on Mitchell Street and to the corner of McLachlan Street in Darwin’s CBD. The property benefits from its proximity to the Darwin Mall, Esplanade (Bicentennial Park), the Darwin Waterfront, Mindil Beach Casino & Resort, and is a stone’s throw from the core Mitchell Street F&B / Nightlife precinct.
This mixed-use investment opportunity has huge and currently unrealised investment upside potential and is the type of acquisition that is long sought-after but rarely found. This asset is sure to be the cornerstone of any portfolio that could see an astute investor capitalise on returns through simple initiatives such as revamping existing facilities which are presently unutilised, enhancing marketing & operational strategies, and/or striking a long-term lease with a proven operator.
A carefully crafted refurbishment programme has the potential to substantially increase ADR / occupancy levels and position the asset prior to divestment or future redevelopment, for which the site has a current Development Approval for a luxury 200-key 5 star hotel with associated facilities. Alternatively this could be a simple set and forget, with current returns being justification enough.
Key features:
• 52 guest rooms over 4-levels with on-site guest parking and refurbished pool area
• On-site manager’s residence
• Additional revenue streams from the Noodle House restaurant and The Darwin City Laundromat
• Commercial kitchen facilities (currently not in operation)
• 2,030sqm corner site which is zoned Central Business
• Current Development Approval for a mixed-use development including a circa 200 key luxury hotel with associated commercial facilities. The DA is due to lapse in November 2024, however may be extended to November 2026 should works be substantially commenced
This asset has all the fundamentals of a highly lucrative investment with unsurpassed upside potential.
For more information please contact Seth Chin on 0411 178 8... or Victor Harris on 0412 154 1....
Darwin City, 0800 demographic data
The median household income for Darwin City is $2,151, 3% lower than Greater Darwin's household income of $2,209. Darwin City has a younger age profile compared to the rest of Greater Darwin (median age 33 vs 34). Property ownership data shows 64% of property owners in Darwin City have a mortgage.
7,149
Population
$2,151 per week
Median household income
33 years
Median age
Renters
Most residents
Families
Most households
Chin Property Group - CULLEN BAY20/48 Marina Boulevard
CULLEN BAY, NT 0820
CULLEN BAY, NT 0820