The Northern Territory news Wed 9 Jul 2014
The Northern Territory news; NewspaperNT
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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin
News Corp Australia
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News Corp Australia
22 REALESTATE WEDNESDAY JULY 9 2014 NTNE01Z01MA - V1 Chance to enhance 37 KNUCKEY ST,DARWIN 1 3+ n/a INSPECTIONS PRICE Expressions of interest AGENCY Colliers International AGENT Nigel Sharp 0422 275 920 THIS is an exceptional freehold building occupied by one of Darwins finest restaurants, Moorish Cafe. The prominent two-storey building has fantastic frontage to Knuckey St and great exposure to Cavanagh St. Offering an outstanding central CBD location with surrounding establishments consisting of a mixture of retail, office, residential and hotel accommodation, the property provides the flexibility to invest, develop or occupy. It sits on a 283sq m site with approximately 11.58m of frontage to Knuckey St. The property has the luxury of dual access with rear access via Spain Place. The building is currently used for retail and residential purposes and has a gross area of approximately 540sq m. The ground level tenancy is leased to Moorish Cafe and is fully fitted out as a restaurant with bar, kitchen and open-plan area for seating. An inventory list is available with the due diligence material. There is one year remaining on the lease and a five-year option including a market review which should see a significant increase given current CBD rents. The upper level is used for residential accommodation and leased on a month-to-month basis and can be offered with vacant possession. The building was built precyclone circa 1954 and is covered by a Certificate of Occupancy. The building is in need of some TLC however the opportunity to secure such a unique freehold property at a very accessible price point within the heart of Darwins CBD is extremely rare.
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