The territory’s Land Development Agency has appointed Knight Frank the sales agent for three ACT Government-owned blocks set for retail, commercial and residential development on the Dickson side of Northbourne Avenue: the former ACT Visitor Centre site vacated when the facility moved to Regatta Point and the public housing blocks on either side of it.
At 30,000 sq m in total area and with 500m of Northbourne Avenue frontage, the sites will be auctioned as one package, described as Dickson on Northbourne, at 11am on August 31.
Settlement for the site, which is a couple blocks from the Dickson shops, will be staggered over three years. The northern-most of the three blocks, the Dickson flats site, will settle in 2017, while the most southern, the Karuah site, is scheduled for 2018 to allow for the continued relocation of current tenants. The Visitor Centre site will settle in 2019 after construction of light rail is complete.
The sites are being sold (together with other ageing government infrastructure) as part of the Federal Government’s Asset Recycling Initiative, which means the ACT Government will receive $67 million from the Federal Government towards stage one of Canberra’s light rail network should it go ahead.
Land Development Agency CEO David Dawes said the Dickson on Northbourne development would feature up to 697 new homes.
“New developments are capitalising on the area’s proximity to light rail to create a mixed residential, commercial and retail avenue that will be a destination in its own right for Canberrans and visitors,” he said.
“This large site provides an exceptional opportunity for a mixed-use development that will improve the amenity and vitality of the area for visitors, residents, the local community and all Canberrans.”
The purchasers will be required to incorporate aspects of several heritage listed former public housing buildings on the site following a vocal community campaign that set out to protect the buildings.
For further information visit www.lda.act.gov.au.