Offers Over $3,350,000 Considered
41 Progress Drive, Nightcliff NT 0810
Apartment
241212
Block size: 2410 m² approx.
Rare Opportunity - Prime 2,400m2 Development land + 12 x 2 bedroom Units!
Territory Real Estate is proud to present this amazing opportunity for investors/developers to secure. The Consortium of Owners are offering the site - Offers Over $3,350,000 Considered
The property has 12 x 2 bedroom units and receives a rental income of approximately $238,000 per annum.
The site is currently zoned MR under Northern Territory Planning Scheme 2020 and can facilitate a varied outcome of land uses including residential, commercial, retail and childcare Centre.
The site was identified as an 'area for change' and is within the 'Activity Centre' as defined within the Darwin Mid-Suburbs Area Plan in NT Planning Scheme.
The site has also been identified of high value for mixed uses with planning objectives including a mix of residential, commercial, retail, community and retail floor space.
The site therefore has the potential to greatly increase in density and development yield. The NT Planning Scheme identifies the site as having a built form of "Up to six Stories"
Input and Assumptions - 6 floors (Total 52 units plus 300m2 Commercial + 300m2 Retail)
Site Area 2,400m2
1 Bedroom units 12 - Net floor space 85m2 (Percentage of total 23%)
2 bedroom units 20 - Net floor space 145m2 (Percentage of total 39%)
3 bedroom units 17 - Net floor space 190m2 (Percentage of total 32%)
4 bedroom units 3 - Net floor space 220m2 (Percentage of total 6%)
Commercial - Net floor space 300m2
Retails - Net floor space 300m2
Act now as this property can sell at anytime!
Contact Stuart Rodda on 0424 780 982
The property has 12 x 2 bedroom units and receives a rental income of approximately $238,000 per annum.
The site is currently zoned MR under Northern Territory Planning Scheme 2020 and can facilitate a varied outcome of land uses including residential, commercial, retail and childcare Centre.
The site was identified as an 'area for change' and is within the 'Activity Centre' as defined within the Darwin Mid-Suburbs Area Plan in NT Planning Scheme.
The site has also been identified of high value for mixed uses with planning objectives including a mix of residential, commercial, retail, community and retail floor space.
The site therefore has the potential to greatly increase in density and development yield. The NT Planning Scheme identifies the site as having a built form of "Up to six Stories"
Input and Assumptions - 6 floors (Total 52 units plus 300m2 Commercial + 300m2 Retail)
Site Area 2,400m2
1 Bedroom units 12 - Net floor space 85m2 (Percentage of total 23%)
2 bedroom units 20 - Net floor space 145m2 (Percentage of total 39%)
3 bedroom units 17 - Net floor space 190m2 (Percentage of total 32%)
4 bedroom units 3 - Net floor space 220m2 (Percentage of total 6%)
Commercial - Net floor space 300m2
Retails - Net floor space 300m2
Act now as this property can sell at anytime!
Contact Stuart Rodda on 0424 780 982
Inspections
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Key details
Bedrooms:
24
Bathrooms:
12
Garage Spaces:
12
Property type:
Apartment
Block Size:
2410 m²*
Other Details
Parcel:
9017
Legal description:
550//9017/
Maps and area information
Block information
Block size: 2410m² (approx)
Legal description: 550//9017/
Measurements are estimates only and based on data provided under licence from
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A block's planning zone defines how that land can be used and what can be built on it.
A right to use a part of land owned by another person for a specific purpose. The most common forms of easements are for services, such as water, electricity or sewerage.
The value of a block of land without any buildings, landscaping, paths, or fences. This is different to the block's market value. A block's unimproved value is used to calculate rates and land tax charges.
This represents the shape of the geographical land. Closely spaced contour lines represent a steep slope. Widely spaced lines represent a gentle slope.
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Property history
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Nightcliff suburb information
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SummaryMedian sales
Average Age
36 years
Population
3,884
Listing ID: 182174972. This listing has been viewed 27 times. It was first displayed on 19/12/2023 and last updated on 19/12/2023.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.