A survivor of the Darwin bombing is on the market
An iconic Top End building is on the market, with a guaranteed tenancy and scars of the history of Darwin.
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Expressions of interest are being sought for an iconic Territory building that survived the worst of Darwin’s bombing and Cyclone Tracy.
The Westpac Bank building at 24 Smith Street is the latest iconic CBD property to hit the market after a neighbouring block that was part of Darwin’s original Chinatown was recently also listed.
Agents McGees Property said the 1192 square metre building was built on an 1880 sqm block with 18 car parks and a tenanted investment with a new, five-year rolling lease.
The building is part of the estate of former NT cattleman Grant Heaslip, who died in 2019.
“Elevate your investment portfolio with an extraordinary opportunity – an iconic CBD commercial property fully leased to Westpac Bank,” the agent’s marketing brief said.
“This prestigious location not only offers a secure and long-term lease with a reputable tenant but also positions your investment in the best location within the CBD.
“The Westpac-branded property stands as a testament to stability and reliability, combining the allure of a renowned financial institution with the exceptional development upside of a prime three-street frontage land parcel sitting adjacent to Charles Darwin Centre.”
According to the Darwin Heritage Trail website, the bank was built in 1940 with assistance of a £1.5m Commonwealth civil and defence work stimulus package assigned to grow Darwin after years of economic stagnation.
The £3000 purchase price paid for the site was the highest recorded for a block of land in Darwin at the time.
The building had cost $17,908 by the time it opened in March 1940.
The bank closed and staff were evacuated after the first two bombing raids in February 1942 and then badly damaged by fire after another bomb in June.
The following year, the branch manager was allowed to return to recover records that remained in the strongroom. When the still badly damaged premises re-opened in March 1946, it operated from the garage at the back of the burnt-out building.
The bank had been compulsorily acquired for £24,375 by the Commonwealth during the war, which included compensation for war damage.
While the interiors are substantially different to the original design, the building’s facade remains colonial revival-style.
There were plans to relocate Darwin’s CBD after the war and to move the bank with it but these were later scrapped and the building was reinstated in 1955.
In the wake of Cyclone Tracy plans to build a 10-storey tower on the site were scrapped.
Late last year two legacy blocks near the bank at the corner of Cavenagh and Bennett Streets which had been with the one family for 80 years were listed for sale.
Expressions of interest close at 2pm on Friday March 8. For information contact Craig Inkster on 0414550705.
The bullet point summary was created with the assistance of AI technology (PaLM2) then edited and approved for publication by an editor.
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