How to snag a Bunnings Warehouse: Rare piece of real estate hits the market offering developers a chance to buy the beloved hardware store - but offers will have to be in quick

The site of a Bunnings Warehouse has been put on the market after hosting the beloved hardware store for 15 years.

Potential buyers can move into the site at 2 Palmerston Circuit, in Palmerston, Darwin, as early as next June when the lease with the hardware giant ends. 

Listed with NTC Property, the former warehouse is considered a prime spot of real estate in the area because it's located in the middle of Palmerston's CBD.

Bunnings relocated to a larger $58million site in Yarrawonga in August, leaving the current store in Palmerston completely empty.

A former Bunnings Warehouse in Palmerston, east of Darwin, has gone on sale

The store was spread out over 19,500sqm with an onsite carpark holding 197 spots 

The store was spread out over 19,500sqm with a carpark of 197 car spots.

It's expected to be popular with investors and developers, and can be split into smaller sites, or repurposed into future high-rise developments.

Nigel Sharp from NTC Property said there'd been a big reaction from those in the community after the site was listed.

'There's been a lot of interest from local developers and investors,' he told Daily Mail Australia.

'Certainly the public has voiced their opinion on what they'd like to see there. Some said they wanted a Costco, or an Ikea or a skating rink... but these things just aren't feasible.'

Mr Sharp said that because Palmerston was flooded with retail stores, the government were working to boost the residential sector.

'The site's in central business zoning so you could go 90m higher. To me that's the perfect area,' he said.

The lot is leased to Bunnings until June 12 with expressions of interest closing on December 3. 

Bunnings Warehouse had used the Palmerston site for 15 years before moving to a larger area in Yarrawonga

The former site is the perfect lot for investors and developers and can even be repurposed into high-rise accommodation