Darwin mansion with $300K gym snapped up – realestate.com.au

News Corp Australia Network

The home at 19 Kirkland Cres, Larrakeyah. Picture: Supplied

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The NT’s hottest home of 2023 has gone under contract for an amount believed to be close to the asking price of $6 million.

The luxury home at 19 Kirkland Cres, Larrakeyah, was the most viewed Territory property on realestate.com.au in 2023, racking up more than 27,000 clicks by end of year.

The 1350 sqm property has a palatial three-storey house with double height voids, floor to ceiling windows and a $300,000 home gym.

Inside the multimillion-dollar home. Picture: Supplied

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Selling agent Seth Chin, of Chin Property Group, said the property was under contract to a Territorian for an undisclosed price both the seller and buyer were quite happy with.

The NT News understands the figure was close to the $6 million asking price.

That would make the home one of the NT’s most expensive residential sales, placing it in the top five alongside 108 East Point Rd, Fannie Bay ($8.5m), 6 Emery Ct, Larrakeyah ($6.5m), 94-98 East Point Rd, Fannie Bay ($6.495m) and 3 Hickey Ct, Larrakeyah ($5.4m).

Mr Chin said it wasn’t often a Darwin home achieved such a high price.

“You could probably count on one hand how many properties have sold in Darwin in the last 10 years for more than $5 million,” he said.

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Mr Chin said the home attracted interest locally and interstate.

“Many of the enquiries were southern investors, particularly from Sydney and Melbourne, however there were several NT-based families that showed interest as well,” he said.

“The big drawcards were the location, the finishes and the build quality of the property.

“Many of the investors said when looking at replacement cost, the property represented good value.

“A home of this calibre would achieve $15 million and upwards in a comparable Sydney suburb such as Woollahra or $10 million easily in a Melbourne suburb such as Brighton.”

The home gym is worth about $300,000. Picture: Supplied

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Mr Chin said when considering the increase in build costs, most prestige properties in the NT’s capital were selling for below replacement cost.

“The high end market in Darwin holds good value,” he said.

“In Sydney and Melbourne, property prices increased by three, four and even five times what they were in 2013, but here prestige property was stagnating.

“It’s now trending upwards and we are seeing real movement as interest rate increases don’t really affect buyers in that segment of the market.”

Mr Chin said he was also seeing significant increases in commercial enquires.

“I’ve got one strata office under contract off market for $3.15m and several offers on another property with prices ranging from $8 million to $9 million,” he said.