SCA Property Group has made its first Northern Territory investment, paying $33 million for the Bakewell Shopping Centre in Palmerston, a satellite region 20 kilometres east of Darwin. The 2.1 hectare complex is the last to sell from a portfolio of four retail assets Woolworths’ development arm Fabcot listed in February. All up the vendorRead more
Charter Hall managed Long WALE Investment Partnership (LWIP) is paying $19.7 million for a Darwin hotel owned for over 70 years by the Dowling family. Parap Tavern at 15 Parap Road, Parap, is tenanted to Woolworths backed ALH Group for 14 years. With options, the occupier can stay until 2084. The sale price reflects aRead more
The South Africa based Langenhoven family has agreed to pay UK headquartered Thames Pastoral Company $70 million for two major Northern Territory cattle farms. The “blue ribbon” Tanumbirini and Forrest Hill stations were listed for sale early last year on a walk-in walk-out basis. At the time they were expected to sell for a totalRead more
Oil industry billionaire, sheikh Hamad bid Hamdan Al Nahyah, has sold Northern Territory’s Idracowra cattle station to a neighbouring pastoral family for $10.1 million. The 462,800 hectare property had a reserve price of $7 million. The United Arab Emirates-based vendor was represented by Geoff Warriner and Chris Holgar – both of JLL’s Brisbane office –Read more
Charter Hall has sold the Katherine Central Shopping Centre, in the Northern Territory, for $28.9 million. It was only four years ago Charter Hall paid $27.9 million for the asset – the only shopping centre in Katherine. It listed the complex for sale off-market earlier this year via Savills’ Rick Silberman and Ben Parkinson. TheRead more
Billionaire sheikh, United Arab Emirates-based oil industry mogul Hamad bin Hamdan Al Nahyah, is selling the enormous Idracowra cattle station, south of Alice Springs. The 462,800 hectare holding will be auctioned with a reserve price of $7 million. Idracowra is being offered on a walk-in, walk-out basis. JLL’s recently appointed directors of agribusiness, long-time colleaguesRead more
TOURISM operators in Alice Springs have been delivered good news, after Federal Environment Minister Peter Garrett deferred a decision which would have banned people from climbing Uluru, which used to be called Ayers Rock.
It’s claimed the speculated 100,000 climbers per month were littering and defecating on the rock, during the climb, which also risks eroding the 348-metre rock.Read more
THE Department of Defence has approved a new 97-dwelling housing project, to be developed at the Larrakeyah Barracks.
The Rudd Government will replace 61 existing homes for the Australian Defence Force and their families.
It’s expected the project will cost about $52.4 million.Read more
PLANS for a 14-level, $50 million apartment block have been earmarked for a site next door to the Novotel Hotel in Darwin.
The new tower, proposed by property developer John Halikos, will see the hotel car park converted into a building containing 21 one-bedroom apartments, 54 two-bedroom units and 36 three-bedroom units. The development would include three levels of car parking, including two built into a basement.
Hakinos paid $24 million for the 4-star Novotel hotel in September (refer previous article below).Read more
DARWIN’s Novotel Atrium Hotel, at 100 The Esplanade on Darwin Harbour, has sold to private investors the Halikos Group for $24 million.
The 140-room, 4.5 star hotel was offloaded by Tourism Property Investment Group, and was sold with a 17-year management agreement to Accor, according to selling agents Colliers International.
Halikos Group managing director Shane Dignan said the purchase was “in line with a strategy to refresh the group’s property portfolio and seek prudent investments in the Northern Territory.”Read more
REVISED concept plans have been released for a luxury mixed use development, within the wals of the former Commonwealth Bank building in Darwin’s CBD. Sydney-based Tanner Architects has been appointed to design the new tower, which is being developed by the Commonwealth Hotel and Residences development, and Fannie Bay Investments Philip Grice. The development, which wasRead more