Five Commercial Strata Units - Investment/occupier opportunity
1,3,5,7,8/17 First Street, Katherine NT 0850
Expression of Interest closing Thu 2/5/24 at 4PM
OfficeSize: n/a
Block size: 330 m² approx.
Knight Frank (Northern Territory) under Mortgagee instructions is pleased to bring to the market these five well located units within a commercial strata premises in the heart of Katherine (NT). The 5 units are well maintained, of good quality and are contained within an impressive group of 8 commercial units in a body corporate. There is ample on site carparking, an attractive garden and paved area between the units (breeze way & common property) The properties are situated close to Katherine Local Court.
Two of the units are vacant and three units are currently rented;
Unit 1 - 89sqm* (rented)
Unit 3 - 57sqm* (rented)
Unit 5 - 57 sqm*
Unit 7 - 73sqm*
Unit 8 - 54 sqm* (rented)
Total - 330 sqm*
The units are for sale (in one line or separately) and are suitable for owner occupiers as well as investors. This is a small investment and repositioning opportunity with the flexibility given the vacancy and monthly tenure.
The units enjoy strong occupancy and interest due to the significant car parking at the rear of the building situated on common property, and the exposure to First street.
These units would be attractive for self-managed superannuation funds - it's a good way to invest and grow your fund. Rental rates are usually higher than mortgage repayments, even in the current market. New construction in town is expensive so there is little development / competition in the foreseeable future. There are also limited alternative sites to accommodate a relocation from the property.
The Katherine Region is a suitable place to invest due to significant investment in Defence, Mining, Oil & Gas and Tourism in and around region. Tindal RAAF base is located not far South and Katherine is the main and only town close by.
More details are set out in an Information Memorandum which can be provided to interested parties upon competition of a Confidentiality Deed.
Mortgagee Sale
For Sale by Expression of interest (in one line or separately) closing on Thursday 2nd May 2024 at 4pm - Knight Frank office, Ground Floor 46 Smith Street Mall Darwin.
Open inspection will be held on:
Friday 12th & Saturday 13th April 2024 12pm to 2pm
Friday 19th & Saturday 20th April 2024 12pm to 2pm
Please contact agents to confirm your attendance or interest.
Two of the units are vacant and three units are currently rented;
Unit 1 - 89sqm* (rented)
Unit 3 - 57sqm* (rented)
Unit 5 - 57 sqm*
Unit 7 - 73sqm*
Unit 8 - 54 sqm* (rented)
Total - 330 sqm*
The units are for sale (in one line or separately) and are suitable for owner occupiers as well as investors. This is a small investment and repositioning opportunity with the flexibility given the vacancy and monthly tenure.
The units enjoy strong occupancy and interest due to the significant car parking at the rear of the building situated on common property, and the exposure to First street.
These units would be attractive for self-managed superannuation funds - it's a good way to invest and grow your fund. Rental rates are usually higher than mortgage repayments, even in the current market. New construction in town is expensive so there is little development / competition in the foreseeable future. There are also limited alternative sites to accommodate a relocation from the property.
The Katherine Region is a suitable place to invest due to significant investment in Defence, Mining, Oil & Gas and Tourism in and around region. Tindal RAAF base is located not far South and Katherine is the main and only town close by.
More details are set out in an Information Memorandum which can be provided to interested parties upon competition of a Confidentiality Deed.
Mortgagee Sale
For Sale by Expression of interest (in one line or separately) closing on Thursday 2nd May 2024 at 4pm - Knight Frank office, Ground Floor 46 Smith Street Mall Darwin.
Open inspection will be held on:
Friday 12th & Saturday 13th April 2024 12pm to 2pm
Friday 19th & Saturday 20th April 2024 12pm to 2pm
Please contact agents to confirm your attendance or interest.
Inspections
No open inspections scheduled.
Send an enquiry
Contact Peter McVann to learn more about this property, request an inspection or take an online tour.
Key details
Property type:
Office
Block Size:
330 m²*
Other Details
Maps and area information
Block information
Block size: 330m² (approx)
No block information available
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SummaryMedian sales
Average Age
36 years
Population
1,254
Listing ID: 182408317. This listing has been viewed 0 times. It was first displayed on 28/03/2024 and last updated on 02/04/2024.
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