INFORMATION MEMORANDUM - 38 McMinn Street

38 MCMINN STREET DARWIN, NORTHERN TERRITORY Accelerating Success.
Download the flyer here: 38-mcminn-street-darwin_investment-opportunity_northern-territory_australia
One of the largest privately owned greenfield sites available in an Australian capital city. This perfectly positioned site in the Darwin CBD offers the opportunity to stage a development now or land bank for the future. With considerable infrastructure projects planned in the immediate vicinity including the Barneson Boulevard extension and McMinn Street widening it is anticipated 38 McMinn Street will become the “Gateway” site to the Darwin CBD.
THE OPPORTUNITY
On behalf of Viva Energy Australia, Colliers International is pleased to offer for sale “38 McMinn Street Darwin, Northern Territory, Australia” via an International Expression of Interest campaign.
Located at the northern end of the Darwin CBD, the property is located only 400 metres from the Darwin GPO and occupies a huge corner allotment of 70,200m2. The property is a landmark green-field site within the Darwin City Centre Master Plan and has significant development potential.
The property undoubtedly occupies one of Darwin’s most sought after locations in a prime position on the city’s fringe with uninterrupted views of Frances Bay and the Arafura Sea. Given the property is zoned Central Business (CB) it is ideally suited to an integrated mixed use project which may include a variety of retail, residential, hospitality and commercial applications. Current planning controls allow development typically up to a 90 metre height limit (subject to Site Management Plan).
With considerable infrastructure projects planned in the immediate vicinity including the Barneson Boulevard extension and McMinn Street widening it is anticipated 38 McMinn Street will become the “Gateway” site to the Darwin CBD.
Darwin is experiencing its long awaited rejuvenation cycle and the Darwin City Council has recently completed their Darwin City Centre Master Plan. The Master Plan seeks to improve the amenity of the Darwin CBD, making it more accessible, liveable and walkable, whilst turning the city into a hub for culture and arts. In addition, the Master Plan will see that the city offers more venues for hospitality, entertainment, business and residential accommodation, with 38 McMinn Street earmarked as one of the zones ripe for rejuvenation.
EXECUTIVE SUMMARY
THE OFFERING
38 McMinn Street, Darwin NT Australia
LOCATION
The property is prominently located on the corner of McMinn Street and Barneson Road on the northern fringe of Darwin City. The property is 400 metres north of the Darwin GPO.
SITE AREA
70,200M2 7.02 hectares
ENCUMBRANCES
Environmental and Development Considerations.
EASEMENTS
Electrical Supply Easement to Power and Water Authority.
ESTIMATED OUTGOINGS
Municipal Rates: Approx. $108,635.40 Water & Sewerage: Approx. $1,500.00
ZONING
Central Business (CB)
LEGAL DESCRIPTION
Lot 05649 Town of Darwin plan(s) S 87/280
INSPECTION
The property will be available for an inspection for all interested parties on Tuesday 25 August at 2pm (ACST).
SALE PROCESS
Under Instructions from Viva Energy Australia, 38 McMinn Street, Darwin is offered for Sale via Expressions of Interest closing on Thursday 3 September 4pm (ACST).
CONTACT
All enquiries and requests should be directed to the Vendor’s exclusive agents. Nigel Sharp Director | Commercial Sales & Leasing Direct: (08) 8997 0811 Mobile: 0422 275 920 Email: nigel.sharp@colliers.com
LOCATION
38 McMinn Street is located on the fringe of the Darwin Central Business District, only 400 metres from the Darwin General Post Office (GPO). The site is prominently located on a high exposure corner on the north eastern side of the Darwin CBD with frontage to Barneson Street and McMinn Street.
The subject site sits central to the main arterial roads into Darwin, being the Stuart Highway and Tiger Brennan Drive which both dissect McMinn Street. It is planned that the Barneson Street and Knuckey Street will be extended and the site will sit directly between these roads and will be come one of the most prominent sites in the Darwin CBD.
The site is approximately 9 kilometres from the Darwin International Airport, 19 kilometres from Palmerston and 13 kilometres from Casuarina (northern suburbs).
The site is predominantly surrounded by high density residential developments on smaller allotments, however this site lends itself to unlimited mixed use opportunities.
LAND AND ACCESS
ZONING
The site is zoned Central Business (CB) and is located in the Darwin Local Government Area. The key purpose of CB zone in accordance with the NT Planning Scheme are as follows:
1. The primary purpose of zone CB is to provide for a diversity of activities including administrative, judicial, professional, office, entertainment, cultural, residential and retail and other business activities with a commitment to the separation of incompatible activities.
2. Building form and design is expected to be sensitive to the needs of pedestrian movement and facilitate the creation of safe and active street frontages and public places and a vibrant commercial precinct.
TOPOGRAPHY
The site runs from its higher point on the western corner of the site (corner of Barneson and McMinn Street), down to the lowest point in the eastern corner of the site (bordering Tiger Brennan Drive).
ACCESS
The site has direct access from Barneson Street and McMinn Street. It is anticipated that further crossovers will be developed in conjunction with the Barneson Boulevard and Knuckey Street extensions.
DARWIN CITY CENTRE MASTER PLAN
Over the past few years, the three levels of government and private sector have worked together to draft a Darwin City Centre Master Plan (DCCMP) that aims to promote the Darwin CBD as a cosmopolitan city, the hub of Australia’s north and critical link to the Asian economy.
The DCCMP was commissioned when the Darwin City Council was considering the long term future of the Cavenagh Street car park. The figure below shows that as result of extensive consultation the extension of Barneson Street will run along the perimeter of the Cavenagh Street car park and ultimately become one of the main thoroughfares to and from the Darwin CBD via Tiger Brennan Drive.
Barneson Street will become known as Barneson Boulevard and with better access 38 McMinn Street will become a central, highly exposed and integral development site in accordance with the DCCMP.
BARNESON BOULEVARD
Barneson Boulevard will commence at Tiger Brennan Drive and finish at Cavenagh Street. This will be the only connection into the middle of the Darwin CBD and aims to ease congestion along the other two arterial roads being the Stuart Highway and Tiger Brennan Drive.
The Barneson Boulevard extension is earmarked as one of the first major infrastructure projects to be undertaken in the rejuvenation of the Darwin CBD and 38 McMinn Street will be the main beneficiary of this project. It is intended that in addition to the increased traffic, direct access will be given to the development site which will appeal to numerous end users. All regulatory authorities are extremely eager to see 38 McMinn Street developed and it is anticipated that all future developments in conjunction with the Site Management Plan will be looked upon favourably.
38 McMinn Street will have approximately 250 metres frontage to Barneson Boulevard and is destined to become the Gateway site to the Darwin CBD.
For full details download the flyer here: 38-mcminn-street-darwin_investment-opportunity_northern-territory_australia