Inpex underpins Darwin industrial property: Herron Todd White

Darwin’s industrial property market has been relatively steady throughout 2015, according to the Herron Todd White latest report.

There has been much speculation locally about the imminent Inpex cliff project.

The construction phase of this project is expected to be completed in 2017 and will therefore no longer compete for all types of resources in Darwin, including property.

"Our expectation in the industrial property sector at least is that demand for industrial accommodation should continue at current levels.

"The commencement of the production phase for Inpex will see demand shift from construction to maintenance which will still require significant accommodation."

Peak periods will also be experienced at shutdowns and if future trains of either Inpex or the Conoco Philips plant are commissioned.

Local property is as well placed as it has ever been to supply the necessary land for the required developments.

There is a choice of a number of industrial estates and we note that work is commencing on the new Truck Central site at the corner of Tiger Brennan Drive and Tivendale Road.

This will include blocks of land available for development associated with the transport industry.

While there were few landmark sales in 2015, the industrial property market in Darwin moved along steadily through the year.

"It would be fair to say that it fared better than most other market segments in Darwin and still retains a positive outlook," the report noted.