Today the Northern Territory Government announced that Toga Group had handed over the undeveloped land at the Darwin Waterfront.
The Property Council of Australia looks forward to the potential opportunities that the handover of the 14 hectares of undeveloped land at Darwin Waterfront will provide. Northern Territory Director of the Property Council Ruth Palmer said.
“Given the current market conditions and the stages completed to date, it would have been unlikely that the development group was going to complete the development within the time frame required.
“It is positive to see the handover take place now instead of the further down the track.
“It is critical that the Northern Territory Government prepare a thorough, exhaustive Master Plan of the site to ensure that it is developed in a way that is integrated with the existing wharves, Waterfront development and the Darwin City Centre.
“There are clearly tourism related opportunities associated with the site and they should be thoroughly explored, however, it is still important to have a residential component to the next stages of the Waterfront. Although current market conditions may limit the need for residential development in the short-term, it's likely that additional residential dwellings at the Waterfront can and should occur over the longer term.
"If planned properly, this is an exciting opportunity for the development of tourism, leisure and hospitality amenities that tourists and Territorians can enjoy.
We also recognise the significant role that the Toga Group has played in transforming an old industrial site to a tourism, leisure and residential precinct used by all.
We look forward to working with the Government to provide constructive input into the overall plan.
Media contact: Ruth Palmer | M 0450 428 314 | E email@example.com