Huge prized CBD real estate parcel in heart of Darwin sells to local business for $16.25m

A huge, prime real estate parcel in the heart of Darwin’s CBD has sold to a local business for a whopping $16.25 million.

A huge prime real estate parcel in the heart of Darwin’s CBD — the Darwin Transit Centre — has sold to a local business. Picture: Supplied

A HUGE prized piece of Darwin commercial real estate has been sold — for a whopping $16.25 million — to a local business.

The Darwin Transit center has been on the market since the middle of the year, and was subject to 17 bids — nine from local bidders.

And the 7740 square metre site at 69 Mitchell Street was sold to a local business, property investors Venturin Holdings.

The Darwin Transit Centre at 69 Mitchell St, includes Shenannigans, Youth Shack Backpackers, Six Tanks and several restaurants.

The sale was negotiated by Colliers.

The site comprises 7740sq m with dual street frontages and carries a 90m height limit, offering substantial future redevelopment potential.

Anchored by hotel group Australian Venue Co’s Shenannigans Irish Pub, the property has a range of tenants including two backpacker’s hostels, as well as retail, entertainment, and food and beverage amenities.

McGrathNicol as receivers and managers presented the property to the market through the Colliers expressions-of-interest campaign that closed on July 23.

The campaign was led by Colliers Darwin’s managing director Chris Hyland and commercial agency director Craig Inkster, in conjunction with Sam Biggins of Colliers’ Restructuring Property Services team in Brisbane.

“The property generated significant interest from purchasers across Australia with 17

bids received at the close of the campaign,” Mr Biggins said.