‘We’ve fielded approaches from several of these groups’: Darwin Transit Centre put on the market

One of Darwin’s most prized pieces of real estate, encompassing several beloved CBD businesses, has been put on the market by receivers.

ONE of Darwin’s most prized pieces of real estate, the Transit Centre on Mitchell St’s entertainment strip ­taking in Shenannigans and stopping at the Mitchell ­Centre, has been put on the market by receivers.

Colliers Darwin have been given the task of finding a buyer for the massive 7740 sqm landholding at 69 Mitchell St, which is already attracting interest.

As well as the Australian Venue Co licensed tavern Shenannigans Irish Pub, the block of land is the site of Six Tanks Brewing Co, the Youth Shack and Chilli’s backpacker hostels and a host of other popular cafes and small business outlets.

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The two backpacker hostels are collectively licensed for approximately 475 beds.

The Darwin Transit Centre currently generates a holding income of about $1.4m and its sale in a reinvigorated Darwin market is expected to attract strong interest from investors.

Colliers is confident that with the recent Santos ­Barossa Gas announcement and the upswing in the NT market there will be significant interest in the offering from purchasers both locally, interstate and potentially from Asia.

Darwin Transit Centre is being sold by Collier's international. Picture: Supplied

Colliers Darwin general manager Chris Hyland said there was a very high level of awareness of the Transit Centre among the active players in the Darwin ­property sector.

“We’ve fielded approaches from several of these groups expressing interest in the asset,” Mr Hyland said.

Colliers Darwin Commercial Agency director Craig Inkster said there were no comparable holdings within the Darwin CBD that could offer the scale, high holding income, dual street frontages and a variety of potential development and value-add outcomes on offer with the Transit Centre sale.

Expressions of Interest for the Transit Centre will close at 4pm on July 21. The sale comes as Mitchell St is ­experiencing a resurgence of interest after lean times.

The infamous “Chinatown hole in the ground” was sold recently for $3.75m.

Just down the road the old Globies site has been transformed into Capitanos accommodation.