Darwin CBD gets $44M high-rise units proposal for Mitchell St

ANOTHER multi-million high rise towering over Mitchell St could be on the cards if a development application gets through the Development Consent Authority

ANOTHER multimillion- dollar high-rise towering over Mitchell St could be on the cards if a development application gets through the Development Consent Authority.

June D’Rozario & Associates have put forward concept plans on behalf of the developer for a 16-storey building with 85 serviced apartments, two three-bedroom multiple dwellings, restaurant and a cafe valued at $44 million.

The application for 85 Mitchell St, where Hogs Breath used to be, is out for public comment until March 25.

The proposal is just 290m from the H 105 Mitchell property – a 180 hotel room and apartment block that opened in August.

Urban Development Institute of Australia (NT) chief executive Graeme Suckling said if the demand was there, the developers would build.

“They’re not going to get financed and they’re not going to sell the development if there’s not sufficient demand,” Mr Suckling said.

According to the NT Property Council, Darwin saw a drop in rents by 1.3 per cent last month.

In December, property research company SQM said Darwin recorded the highest vacancy rate in December 2015 at 4.2 per cent.

Mr Suckling said inner city accommodation was more popular with the generation, born from 1980s onward.