4 Mansfield Street, Palmerston NT

SOLD | $8,800,000 | Circa 6% yield | 10+ Year WALE                

4 Mansfield Street is a well presented two storey building in the heart of the Palmerston CBD. The property is known as The Herbarium given it holds over 270,000 plant specimens in a climate controlled vault for the Northern Territory Government.

The property is wholly leased to the NT Government on a 10+ year lease which expires 31 March 2032 with the ground level occupied by Land Resource Management and Level 1 by NT Correctional Services.

The 1,510.3sqm building sits on a regular shaped allotment of 940sqm overlooking the picturesque Goyder Square. Albeit the address on title is 4 Mansfield Street the front of building and main entrance is via The Boulevard.

The current gross passing income is $633,022 per annum with outgoings payable by the Landlord. The Landlord has only recently completed a major refurbishment in excess of $1.3M.

Very rarely does long WALE investments of this nature become available within the Darwin market and NTC Property is extremely excited to be exclusively offering this to opportunity for sale.

Contact selling agent:
Nigel Sharp – Director
0422 275 920