Katherine real estate: Five commercial units next to Macca’s have been in mortgagee sale

A second mortgagee sale has emerged in Katherine after the area’s only McDonald’s was listed. Find out how they’re connected.

More details have emerged of the mortgagee sale at the Katherine Macca’s as a second property has hit the market.

Agents Knight Frank are selling five units next door to the golden arches, that are owned by the same mortgagee.

The NT News reported on Wednesday the McDonalds’ was also being sold.

The restaurant and the five properties are jointly-owned by Hong Oai Nguyen and Thi Ngoc Cam Nguyen – both of whom are listed as living at an address in Rapid Creek.

Next door to the Macca’s at 17 First St are five strata properties located within a commercial strata premises.

Units 1, 3, 5, 7 and 8 are for sale, ranging in size between 54 square metres and 89 square metres to a total of 330 square metres.

Mortgagee sale at 17 First St, Katherine.

They’re described as well maintained and contained within eight commercial units in a body corporate.

They can be bought individually or in a cluster and are suitable for owner occupiers as well as investors.

“These units would be attractive for self-managed superannuation funds – it’s a good way to invest and grow your fund,” Knight Frank’s sales brochure opined.

“Rental rates are usually higher than mortgage repayments, even in the current market. New construction in town is expensive so there is little development competition in the foreseeable future.

“There are also limited alternative sites to accommodate a relocation from the property.”

Knight Frank highlighted the strengths of Katherine as a business destination.

“The Katherine region is a suitable place to invest due to significant investment in defence, mining, oil and gas and tourism in and around the region,” it said.

“Tindal RAAF base is located not far south and Katherine is the main and only town close by.”

Located at 15 First St, the Maccas site’s July 2022 unimproved capital value was $640,000.

It is the only McDonald’s for approximately 300km.

Both sites are open for inspection on April 12 and 13 and April 19 and 20 between 12pm and 2pm.

Unlike the McDonald’s, which will be sold by auction from Sydney on April 30, the strata units will be sold through an expression of interest process closing on May 2.

For details contact Peter McVann at Knight Frank on 0412833276.