Bringing you the latest Canberra commercial property development news.
Development Kicks off at University of Canberra
The ACT Government is set to approve a raft of legislative changes to facilitate up to $1billion worth of commercial and residential development at the UC’s campus.
The variations to the Crown Lease and Territory Plan will allow various additional uses on the land including a technology park, aged care facility, private hospital and up to 3,300 non-residential dwellings.
The implementation of the University’s Master Plan is expected to provide a boost to economic development in the region as well as expanding opportunities for the University from an educational prospective.
COOMBS – Auction results update
Two development sites sold at auction on 4th March:
Block 3 Section 36 – 8,424sqm – SOLD for $2,700,000
Block 1 Section 17 – 8,844sqm – SOLD for $4,000,000
Block 3 Section 36 is the first local centre site for the Molonglo Valley with a supermarket (with a GFA of up to 1,000sqm), and GFA for other shops and businesses up to 1,000sqm. The total site area includes provision for parking.
Block 1 Section 17 is a community use site situated adjacent the future Coombs school. The development will include a minimum 120 place child care centre, community centre of at least 300sqm and optional additional community facility.
Once complete, Wright and Coombs will be home to over 3,000 dwellings.
Read more at the Land Development Agency Website.
Feature Property of the Month
Have you visited the M Centre at Manuka lately? The building is a prominent retail shopping centre on the corner of Bougainville Street, Flinders Way and Palmerston Lane. The vibrant tenancy mix includes two popular restaurants, a hairdresser, nail salon, florist, and several high end fashion retailers.
A 96sqm unit is now available for lease and features a full glass shopfront to Flinders Way, and access to internal toilets, plus gas and grease trap points. Ample public car parking is provided in the immediate vicinity.
Details are available at our website.
Time to Talk Canberra
Public consultation is open on the following topics: