The Icon, 56 Smith Street, Darwin City, NT, 0800

NTC Property & JLL, under instructions from the Agents for the Mortgagee in Possession (KordaMentha), are pleased to offer for sale 56 Smith Street, Darwin NT.

56 Smith Street Darwin, Lot 2322 from plan(s) OP 001210A, is one of the most recognisable and well-known properties within the heart of the Darwin CBD. The property was Darwin's original Woolworths and Big W stores and is still known to local as the "old Woolies" building. It is now home to Charlie's of Darwin, which was recently named in the top 20 bars to visit in the world in 2021 by UK newspaper, The Telegraph.

Positioned on a corner location at the intersection of Knuckey Street and Smith Street and occupying 3,800sq.m*, the property lends itself to potential future redevelopment (STA).

The two-storey building provides 3,910sq.m* of gross lettable area with the potential to refurbish an additional 1,447sq.m* of level 1 space as required (STA).

Key features of the the property include:
- Gross Income $1.4 million* per annum
- 3,800sq.m* regular shaped allotment
- GLA 3,910sq.m*
- Diverse tenancy mix of retail, convenience and hospitality
- 97% occupancy of refurbished areas
- Negotiations in place with incumbent tenants improving lease profile
- Flexible Central Business (CB) zoning and three street frontage
- Potential ability to increase GLA (STA)
- Frontage to Austin Lane, an area of activation and enhancement by the NT Government
- Potential redevelopment or repositioning opportunity (STA)
*approximate

56 Smith Street, Darwin is offered for sale via Expressions of Interest closing Thursday 18 November 2021 at 4pm (ACST). It is being offered for sale separately or in one line with 33 Cavenagh Street, Darwin.

For more information or to arrange an inspection, please contact exclusive marketing agents, NTC Property of JLL.

Remember to mention you found this property on DevelopmentReady