Darwin Draft Plan Holds Commercial Property Potential
Now may be the perfect time to consider investment in commercial property in Darwin, as the release of the Draft Darwin City Centre Master Plan highlights a number of ways the city is hoping to increase prosperous growth in the Northern Territory capital.
"The city used to be the centre of Darwin life," said Lord Mayor Katrina Long Lim in a February 20 media release.
"Like many cities, however, it is now facing an identity crisis. [The plan] imagines what our city could look like in 20 or 30 years, its roads, parks and future neighbourhoods, and then makes the case for how to get us there."
Part of this revitalisation effort is focused on making Darwin an attractive spot to not only live, but also work, shop and visit. This would indicate plans to better utilise commercial property space, including real estate for offices, shopping and leisure activities.
At the very least, the upgrading of roads and other infrastructure in Darwin's CBD is likely to improve real estate values and make the area a more attractive region for people to live and work in.