1 September 2022

Hundreds more apartments for Belconnen as The Markets gets green light

| Ian Bushnell
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The Markets, Belconnen

An artist’s impression of The Market Residences on Ibott Lane, Belconnen. Image: Cox Architecture.

Construction of a major mixed-use apartment development next to the Belconnen Markets will get underway this year after the planning authority gave the project the green light.

The 10-storey, 315-apartment Market Residences on the corner of Belconnen and Benjamin ways will be a landmark development on the gateway site.

Custom Apartments – a joint venture between Peter Micalos’s Intellectual Property and Sydney developers – is behind the project after buying the site from previous owner Elanor Funds Management last year for $14 million.

Custom directors said the Cox Architecture designed project would rejuvenate the area, especially with the Belconnen markets being redeveloped.

“Combined with the under construction Capital Food Markets, The Markets will completely revitalise that area of Belconnen and create a truly remarkable precinct of commercial and residential properties,” they said.


The Piazza’s lush courtyard and atrium.

The directors said the fast approval timeframe was testament to the high-quality design of the product that includes extra-large apartments designed for families and a diverse range of occupants.

“We have worked very effectively and collaboratively with the authorities and all key stakeholders to obtain this DA approval,” they said.

“We have listened to all the feedback and direction to date and ensured we have proactively responded to government policy in a meaningful manner.

“We look forward to the commencement of construction later this year and delivering a great product to the marketplace.”

The four-building, pet-friendly development will offer loft apartments, one, two and three-bedroom apartments and three, four and five-bedroom penthouses, as well as five ground-floor retail tenancies.

Markets pool

The rooftop pool and gardens.

One-bedroom apartments start at $417,050, two bedrooms from $645,050, three bedrooms from $850,250, and four bedrooms from $949,050, while the top-of-the-range five bedrooms start from $3,230,000.

The Markets features its own food and dining destination with The Piazza, an immersive internal urban sanctuary inspired by the iconic Grounds of Alexandria in Sydney.

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Custom says the Piazza will host speciality producers and bring curated displays to life inside a lush central atrium.

The rooftop includes a swimming pool and facilities, private rooftop gardens, lawns and outdoor dining barbecue and picnic areas.

A four-level basement will provide 582 parking spaces, with some having charge points for electric vehicles.

The Notice of Decision said the issues raised in representations included traffic impact, the project’s bulk and scale, setbacks and a lack of community consultation.

But Custom said the approval came with minimal conditions, and the Notice of Decision shows they are mainly to do with verges, a driveway, lighting, ensuring parking numbers and satisfying utilities.

Construction is expected to take two years with completion in 2024.

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Explains why the new markets are so much worse than the old ones, just a developer driven money making scheme.

No surprises here. This Labor-Greens government parades as environmentally conscious, yet wants to put massive apartment blocks on every spare space and grow the population massively. Just with little infrastructure or entertainment for these great masses.
They are only interested in childless couples living in apartments, yet happy to grow migration at massive levels.
Please show a clear list of investments owned by local and federal politicians, investment properties, shares in big oil etc.
Yet a new Civic stadium that would boost a tired and boring Civic, attract not just sport but concerts, help long struggling businesses….too hard, or more likely don’t own any investments nearby that would be boosted $$$

Bridget Johnson4:05 pm 04 Sep 22

I couldn’t be more disgusted! What happened to the BUSH CAPITOL? Ten floors? I recall something about buildings in Canberra were NOT to be over eight floors. And someone in my street is putting a flat up in the FRONT yard abutting the sidewalk. The Barr government is going too far AWAY from the interests of the people in favour of the developers. I HATE IT!!!

So more high rises for Gungahlstly.

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