Overview

After a prolonged period of dormancy, the property market in Darwin, Australia's most affordable capital city, is experiencing a significant resurgence and has entered a new growth phase. This is an opportune moment to secure your future and take advantage of the market's upward trajectory.

This property offers exceptional value for developers and land bankers, representing the best value per square meter of Low Medium Density Residential (LMR) land available in Greater Darwin. The Unimproved Capital Value (UCV) on Title is estimated at $1.5 million as of July 1, 2024, and the market has continued to rise since this valuation was last assessed.

There is a strong demand from both tenants and owner-occupiers for modern living in this highly sought-after location, with rental prices consistently reaching or exceeding those in nearby Palmerston. Recent sales of ground-level units in Coolalinga have reached the mid-$600,000s, and with the Northern Territory Government extending generous grants until September 2027, now is the time to secure land of this nature and develop it.

Coolalinga is at the heart of Darwin's expanding rural area, where a significant percentage of the Northern Territory's wealthiest residents choose to reside. It is also one of the busiest shopping precincts in the region. The site at 23 Grice Crescent is ready for immediate development, with existing services in place, making it an ideal location for a large complex or a village of ground-level units.

Key Features:

• 5830 square meters of Low Medium Density Residential (LMR) land ready for development.
• Conveniently located just 200 meters from Coolalinga Central, adjacent to a bike track.
• Ideal for small ground-level units or townhouses, with significant demand in the current market.
• Situated in a major growth corridor.
• Located next to major shopping centers on both sides of the highway and public transport.
• Potential eligibility for $50,000 First Home Buyer and $30,000 New Start NT Government grants for the purchaser or end user if developing to sell.

Location:

• Coolalinga is approximately 30 kilometers from the Darwin CBD, easily accessible via Tiger Brennan Drive and Stuart Highway.
• While some residents commute to the Darwin CBD daily, most work locally or in Palmerston, which is about 10 kilometers away and serves as a satellite city of Darwin.
• The site at 23 Grice is well-positioned behind the existing Coolalinga Central Shopping Centre, providing future occupants with easy access to shopping, medical, postal, and banking services. Childcare centers are also available within the suburb and nearby Virginia and Bee's Creek.
• A bus interchange located approximately 500 meters from the site offers regular services to Palmerston, Darwin City, and other areas.
• Being in close proximity to Coolalinga Central Shopping Centre, residents can easily walk to the shopping center and the Coolalinga Tavern, which provides convenient retail and amenities.
• Coolalinga Central Shopping Centre is anchored by Kmart and Coles Supermarket, along with various specialty retail stores, including a local butcher, bakery, and numerous fast food outlets such as Subway, KFC, McDonald's, and Hungry Jacks. A full-service Woolworths Supermarket and additional specialty stores are located on the opposite side of Stuart Highway.

Additional Information:

• Council Rates: Approximately $1,549 per annum.
• Area Under Title: 5830 square meters.
• Zoning Information: LMR (Low-Medium Density Residential), formerly known as MD Multi Dwelling.
• Status: Vacant possession.
• Unimproved Capital Value (UCV) on Title: $1,500,000 as of July 1, 2024.
• Easements as per title: Electricity supply easement to Power and Water Corporation, drainage easement to Litchfield Council.

Location