84 Mitchell Street,
Darwin City, NT 0800

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....