Once abandoned, this vacant lot has been snapped up by one of Canberra’s most prominent developers. Photo: Geocon.
Geocon announced the acquisition of a prime DA-approved site in Braddon this week, along with plans to transform the currently vacant lot into a vibrant mixed-use precinct.
The 10,663 square metre block at 220 Northbourne Avenue was listed for sale by its last developer in 2024.
It was previously slated for two residential buildings, hosting almost 400 units between them, and a six-storey commercial building, with four levels of basement parking beneath.
CBRE described the block as “Canberra’s most prominent development site” due to its prime position intersecting Northbourne Avenue and Wakefield Avenue.
Geocon described the strategic purchase as a key addition to its portfolio.
A mixed-use development at 220 Northbourne Avenue will mark a significant milestone in the company’s effort to expand fundamental urban areas, develop Canberra’s skyline and drive economic growth.
Founder and managing director Nick Georgalis said Geocon will soon submit a fresh DA detailing approximately 550 one, two and three bedroom apartments, alongside commercial spaces to activate the ground floor.
“At Geocon we have been very focused on town centres and transport routes for several years. We find that property in these areas plays a significant role in value and lifestyle,” he said.
“220 Northbourne is one of those projects. It sits on a key intersection and really is the gateway to the CBD.
“We are looking to submit a new DA for the site very soon, with the hope to launch the project to market in late 2025 [to] early 2026.”
Geocon’s upcoming development will feature state-of-the-art facilities, green spaces and excellent connectivity to the rest of Canberra. Photo: Geocon.
Close proximity to major roads, public transport and Canberra Airport feeds the dynamic potential of 220 Northbourne Avenue.
Shops, restaurants and recreational hubs are also nearby, making it an attractive destination for residents, businesses and visitors alike.
Geocon plans to take an innovative approach in their design, following the footsteps of previous successful projects such as the Republic Precinct, Midnight and WOVA.
The 220 Northbourne Avenue development will aim to meet a growing demand for modern, integrated living in Canberra and other major cities. Practical design features will blend residential and retail spaces with ease.
Geocon confirmed they will not carry through the previous DA’s build-to-rent aspects in their proposal.
CEO Damon Smith said the acquisition highlights Geocon’s dedication to creating vibrant communities across the capital.
“220 Northbourne offers a great opportunity to deliver much needed housing options along the light rail corridor,” he said.
“The decision to remove the build-to-rent aspect of the project was not easy; however, our team are experts in delivering quality projects and we believe the outcome will be beneficial to the Canberra community and market.
“We are thrilled to acquire this landmark property on Northbourne Avenue. We envision a precinct that will enhance the Braddon area and contribute to the city’s long-term prosperity.”
For updates, visit 220northbourne.com.au.
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