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2 Palmerston Circuit, Palmerston City, NT 0830

2 Palmerston Circuit, Palmerston City, NT 0830

Retail Showrooms/Bulky Goods Land/Development

  • Sold Contact Agent
  • Mon 09-Aug-21

SOLD - Every Renovator's Dream!!!

  • Substantial Holding Income
  • Large Landholding
  • Central Business Zoning

  • Land Area
  • 1.95ha (4.82 acres) (approx)
  • Floor Area
  • 8,379 m²
  • Tenure Type
  • Tenanted Investment
  • Last Updated
  • Sep 11, 2021
  • Car Spaces
  • 197
  • Parking Comments
  • 197
  • Zoning
  • Central Business

Interested in this property? Contact an Agent today

NTC Property - DARWIN CITY

GPO Box 1062

Darwin City NT 0800

SOLD - Every Renovator's Dream!!!

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

2 Palmerston Circuit, Palmerston City, NT 0830

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