Fannie Bay Village trades for first time in generations

After establishing a bakery there, the vendors accrued the strip over 30 years.

A local family has sold an unusual investment, the Fannie Bay Village – a row of 11 standalone buildings on seven sites accumulated over three decades from the 1960s.

The Fannie Bay asset includes retail, offices and a medical centre.

Described by the agents as “one of the most unique, well known and admired properties in metropolitan Darwin” – the amalgamation fetched $17.8 million from an as yet undisclosed local family.

With 5698 square metres, the properties are leased to a combination of office, retail and essential service occupies.

The site, covering 1-15 Fannie Bay Road, spreads 4389 sqm with 166 car parks accessed from four streets.

High yield

Despite the rarity, and development upside, the assets are selling on a high yield of nine per cent (story continues below).

Numerous offers came in, according to NTC Property’s Nigel Sharp.

The vendors operated a bakery in the strip in the 1960s before starting their buy-up.

The purchaser is a well known local family searching for a local asset for some time, the agent added.

More to come.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of