22 Giles Street, Katherine NT 0850

Four subdivided lots with pre-approved plans | elevated designs for local conditions | multi-dwelling potential up to eight homes | strong demand in Katherine’s housing market This property is competitively positioned as a rare development-ready landholding in a market with rising median values and rental yields near seven percent. The pre-approved permits for elevated three-bedroom homes on each lot remove the most common delay in starting a project, and the option to modify permits for two dwellings per lot unlocks a potential eight-home yield. For a buyer seeking a turnkey development site in a regional centre with steady demand from government, education, and service sectors, this offers a clear time-to-market advantage over raw land. The principal risk is the 85 percent price increase from the 2022 sale to the current listing, which compresses margin if construction costs rise further. Buyers should verify the permits’ expiry dates and any council conditions tied to the modification option, as these may carry additional fees or approval timelines. The opportunity lies in holding the lots individually for capital growth or selling with permits attached to capture a premium from owner-builders. Use this property as a development pipeline in a tightening Katherine market where serviced, permit-ready land is scarce.