51-53 Smith Street

Darwin City NT 0800

51, 53 & 55 Smith Street occupies three prominent sites with two street frontages and covers a combined land area of 1,591 square metres. The current improvements consist of two separate buildings with a total Gross Lettable Area over 1,400 square metres (approx.). 51 & 53 Smith Street is leased to one of Darwin's leading advertising agencies, Sprout. Their tenancy comprises of a ground floor office/showroom and an upper floor office for with a high end fitout across both floors. 55 Smith Street is currently used as retail premises for one of Australia's leading surfwear companies and trades as Rush Surfwear.
As we all know, the fundamental rule for property is Location, Location, Location and it does not get much better than 51, 53 & 55 Smith Street Darwin. Recent data has indicated that the corner of Knuckey Street and Smith Street has the highest amount of foot traffic in Darwin's CBD and the subject property is only 30 metres from this location. With a large 32 metre street frontage to Smith Street, the exposure is second to none and an opportunity like this will not become available again.
There is no question the property is currently under-utilised and provides endless opportunities for a future mixed-use development. Maintained by a significant holding income, the asset will give astute investors/developers ample time to design a landmark building appropriate for this location.
With its Central Business (CB) Zoning the subject property is ideally suited to a mixed use project which encompasses retail, hospitality, residential and commercial applications. Planning controls in Darwin CBD have recently been revised, and typically allow development of up to 90m in height (approx. 33 Storeys).
Darwin city is currently at the beginning of its long awaited rejuvenation cycle. A new Darwin CBD Masterplan was commissioned in 2013 by Darwin City Council and is now in its final stage draft. The Masterplan seeks to improve the amenity of Darwin's city, making it more accessible, liveable and walkable, whilst turning the city into a hub for culture and arts. In addition, the Masterplan will see that the city offers more venues for hospitality, entertainment, business and residential accommodation, with 51, 53 & 55 Smith Street earmarked as one of the zones ripe for rejuvenation.
Please find the details below for this unique property:
- Significant holding income
- Highly sought after and central location
- Only 50m from Smith St Mall and 150m from the Darwin GPO
- Three separate titles with a combined land area of 1,591sqm
- Two separate titles with a GLA over 1,400sqm
- Two street frontages
- Up to 10 car parks available
- Future development potential up to height of 90m (STCA)
- Zoning Central Business (CB)
- To be sold in one line
- Inspections by appointment only
Do not miss this opportunity to secure this irreplaceable piece of property in Darwin's thriving CBD precinct. Please contact the exclusive selling agent, Nigel Sharp - 0422 275 920.