NT Government Seeks Submissions to Redevelop Weddell into Tropical Resort

THE Northern Territory Government is seeking submissions to create a new tropical city at Weddell, about 40 kilometres south-east of Darwin.

The first stage of the competition invites developers to consider such matters as planning, engineering and architectural aspects.

Weddell is eventually expected to accommodate 50,000 residents in low, medium and high density style housing. The first blocks should be offered for sale by 2014, according to Weddell Taskforce project manager Brendan Lawson.

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Tower Planned For Car Park Next Door to Darwin’s Novotel Hotel

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).

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Abigroup Wins Department of Defence Contract

LEND Lease arm Abigroup has won a major government contract.

Details of a media statement released today is below:

Abigroup has won a national Defence contract to prepare RAAF airbases around Australia to receive the air force’s next generation of fighter jets.

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No Room At The Inn

Residential rental vacancy rates have averaged an all-time low of 1.9% across Australia for the past two and a half years, according to data published today in the Mortgage Choice/REIA Real Estate Market Facts report, September quarter edition.

This compares with a 20-year average of 3.6%. The industry benchmarks anything below a 3.0% vacancy rate as indicative of an undersupply of rental accommodation.

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