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London Circuit Car Parks fail to sell

By johnboy - 22 June 2010 12

The Canberra Times has a typically complex planning story on the failed auction of the Baileys Corner car park and the matching one across Northbourne Avenue.

A glut of commercial development space in Canberra and fears of a legal challenge over a planning amendment on City Hill are being blamed for two premium development blocks at Civic being passed in at auction yesterday.

Billed as ”sensational”, ”the pulse of the city” and the ”city’s ultimate address”, the London Circuit car park sites failed to meet the ACT Government’s reserve price.

While five Canberra developers made bids, interstate institutions and listed companies snubbed the sale.

Is it possible that Civic is as developed as it can get until the city grows a bit more?

What’s Your opinion?


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12 Responses to
London Circuit Car Parks fail to sell
georgesgenitals 2:19 pm 29 Jun 10

Pandy said :

Walk down London Circuit near the Law Courts. Dead after hours. People prefer the Braddon Side of town

Totally agree, and with the new Braddon developments the true city centre will shift north a bit.

Gungahlin Al 12:45 pm 29 Jun 10

rosscoact said :

You’re a bit confused there Al

IIRC the site proposed for ACT government building is near Constitution avenue. These two sites are on either side of Northbourne avenue opposite sydney and Melbourne buildings

Fair ’nuff.

LSD 12:06 pm 29 Jun 10

couldn’t they just formalise the park as “Friday Night Fight Club” and charge extra for spectators?

Ronnie 11:35 am 23 Jun 10

Regarding carparking, the developer must replace what is there and make it available to the public. On top of this the developer must also provide the additional car spaces required by the hotel/ apartments etc.

Once the development is complete the public will have the same number of spaces as there are now.

Also these sites have nothing to do with the proposed ACT Government building.

Pandy 12:37 am 23 Jun 10

Walk down London Circuit near the Law Courts. Dead after hours. People prefer the Braddon Side of town

bd84 11:16 pm 22 Jun 10

From what I’ve heard there are quite a few interested parties for the ACT Government’s proposed fortress, but with a guaranteed tenant for pretty much the entire life of the building that’s not exactly a shock.

The passing in of the twin London Cct sites is not that much of a surprise, particularly given the Section 63 site remains as a carpark with the developers being unable to attract tenants.

rosscoact 5:29 pm 22 Jun 10

You’re a bit confused there Al

IIRC the site proposed for ACT government building is near Constitution avenue. These two sites are on either side of Northbourne avenue opposite sydney and Melbourne buildings

Gungahlin Al 12:34 pm 22 Jun 10

Interesting that even the site with the guaranteed tenant – the ACT Govt itself – passed in… Must be something about the conditions that just didn’t stack up as a workable proposition.

Of course the Govt can always go ahead and build their nice shiny headquarters themselves, but with their aversion to borrowing to build assets, how could they afford it?

Erg0 12:11 pm 22 Jun 10

Maybe someone could buy the sites and turn them into sorely needed car parks.

Wait…

Kath 11:32 am 22 Jun 10

I’m rather relieved too (for the moment). I vaguely remember some statement that parking spaces wouldn’t be lost in having them built upon because the hotels would have to have underground parking beneath them, but that’s surely just going to be just for the patrons of the hotel.

Maybe the interstate hotel operators decided to steer clear after they looked at the location – close to all those run down buildings and empty shops.

laughtong 11:26 am 22 Jun 10

I am pleased as well.

I am already actively avoiding businesses and meetings in Civic because of the parking hassles. The sale of these two car parks would make an already bad situation impossible.

As mentioned above one of these carparks services the Canberra Theatre. Bus services home from the theatre after 11:00pm on a cold wet winter evening anyone? I have done that in Adelaide, but doubt there would be a service here.

Does anyone care that one of these is the closest reliable parking to the coach terminal? What are people collecting passengers from the coach terminal supposed to do?
Are passengers really going to spend 1.5 hours on a local ACTION bus getting out to Banks after coming from Sydney in under 3.5 hours?

When ACTION can supply a viable service to and from areas like the far south, only then should the sale of these car parks realistically be taken further.

grump 10:11 am 22 Jun 10

I would hope so – can’t get a car park now (and I’m not catching a bus to the theatre or for dinner with friends thank you!)

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