I was listening to 666 this morning as they discussed the section of Campbell up for auction today. Five blocks, located on the corner of Constitution Avenue and Anzac parade were going under the hammer with an expected figure of $40m hoped to be achieved. I must confess, I’m not a massive fan of the developments in and around Kingston and Acton. I mean, they’re cool but I don’t find myself thinking ‘I wish I lived there’, but I had pangs of jealousy for those who would eventually live in this prime little section of Canberra in the future.
The Auction results are now in and according to the Canberra Times, they exceeded expectations by more than 50% and sold for $63.75 million. The LDA has geared the land for development of 528 dwellings and a fancy hotel (well, they didn’t specify fancy but I assume so).
The land was snapped up by a consortium known as SHL Development, consisting of Englobo MD Terry Shaw and a number of other developers with local connections and extensive experience in China.