Northern Territory government sells Palmerston land for development

The last parcel of Crown land for the 2013/2014 financial year has been sold by the Northern Territory government at public auction, with the aim of improving housing affordability.

The sale, organised by LJ Hooker at the Darwin Convention Centre, included two residential lots in Moulden with multiple dwelling potential, as well as two lots in Yarrawonga with Light Industrial zoning.

The two residential lots are able to yield up to 27 dwellings together, according to Minister for Lands, Planning and the Environment, Peter Chandler.

“Interest in the light industrial sites was strong and the auction of these two lots was successful on the night,” said Chandler.

“Several parties were also bidding on the smaller of the two residential sites and this lot is also successfully under contract.”

The larger residential site failed to meet reserve, which is now up for sale “over the counter”.

This site could see up to 19 dwellings developed. It’s a 5,790 square metre offering and is across the road from Moulden Middle School.

 “The aim of these auctions is to boost investment and housing stocks. To avoid land banking, all Crown land sold at auction has a legal requirement to be developed,” he said.

“More public auctions of Crown land will happen throughout the upcoming financial year and I encourage individuals and businesses to get along and see what is on offer.”