At the MMJ Canberra auction yesterday five residential and commercial development sites at Canberra’s Amaroo Group Centre attracted strong bidding with four of the sites being sold under the hammer.
Over 40 registered bidders competed for the mixed-use/multi-unit, townhouse, terrace and childcare sites, reflecting the recent increase in demand for land of this nature.
MMJ Canberra Principals, Nick George and Gavin Obst, marketed the sites on behalf of the ACT Government’s Land Development Agency, which also sold three sites in Coombs and one in Franklin at auction last week.
Nick said “yesterday the room was packed and to have over 40 registered bidders is unheard of at recent land auctions.” Gavin commented “the Amaroo auction was a great result for our clients. The market may be on the way up but the results are a testament to our hard work.” Nick added “it is apparent that the increased interest was directly linked to the effectiveness of our digital marketing.”
Results of yesterday’s auction are: –
Blocks 1 – 13 Section 113
Terrace site of 2,535sqm, for a maximum of 15 dwellings
SOLD at $2,650,000
Blocks 1 – 8 Section 111
Townhouse site of 1,347sqm, with blocks sizes between 118sqm and 237sqm
SOLD at $1,700,000
Block 1 Section 10
Mixed Use/Multi-Unit site of 2,058sqm, for a maximum 35 dwellings and 1,100sqm of commercial space
SOLD at $1,575,000
Block 1 Section 112
Childcare Centre site of 1,872sqm
SOLD at $882,000
Blocks 1 & 2 Section 114
Mixed use/Multi-Unit site totalling 4,049sqm, for a maximum 70 dwellings and 2,500sqm of commercial space
PASSED IN
Negotiations continue with the highest bidder for Section 114 and a sale is expected shortly.