10 March 2022

Prime Belconnen Town Centre site sells for $20.5 million

| Ian Bushnell
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Belconnen Central land for sale

An aerial view of the Belconnen Central site in the Town Centre. Photo: SLA.

The ACT Government will bank a $20.5 million windfall after selling a prime block in the heart of the Belconnen Town Centre on Wednesday (9 March).

The 7125 square metre block bounded by Swanston, Chandler and Cohen streets, and dubbed Belconnen Central, was the subject of strong competition at the Suburban Land Agency auction, with three of the eight bidders fighting it out at the finish.

Canberra property developer JWLand, the company behind Founders Lane in the city and Campbell 5, emerged with the winning bid.

More than 500 apartments could be developed on the site.

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The selling agent was Colliers International. Its associate director, land marketing, residential, Josh Reid, said the strong field and result was reflective of the demand for land in Canberra, particularly in the Town Centres.

He said JWLand would probably develop some sort of mixed-use complex dominated by residential on the site, which is zoned CZ2 for a variety of uses, including multi-units, hotels, serviced apartments and shops.

It is currently a car park, and there is a requirement to retain the current amount of public parking on the site.

Belconnen Central map

A map of the Belconnen Town Centre showing the site in relation to surrounding destinations. Image: SLA.

JWLand National Head of Development Michael Prendergast said the acquisition of another landmark site strengthened the company’s commitment to Canberra and the evolving transformation of the Belconnen Town Centre.

“Our strength resides in delivering large-scale, world-class mixed-use precincts,” he said.

Mr Prendergast said the acquisition of this site was a fantastic opportunity for JWLand to create a sustainable mixed-use precinct in one of Canberra’s most sought-after town centres.

“Given its proximity to the city, University of Canberra and diversity of employment opportunities, the area has matured and commands significant interest as a desirable place to live,” he said.

“Over the coming months we will begin working with our stakeholders to design a precinct that will complement the characteristics of this area.”

The site can accommodate 550 dwellings and must include 87 affordable, 10 public and five community units.

According to the sales brochure, the SLA wanted a developer to deliver a sustainable project in line with the Belconnen Master Plan.

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Any development will need to be all-electric, supporting the ACT’s move away from gas as part of its climate policy, and include electric vehicle charging units for each dwelling.

JWLand has recently completed the final stage of their Founders Lane project in Braddon and buyers will soon be residing in the DAWN and SOL buildings.

The Founders Lane precinct comprises of four mixed residential buildings totalling almost 800 units and is located adjacent to the Canberra Centre.

Construction has now commenced at The Sullivan, the second stage of the Northbourne Village precinct in Lyneham.

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outstanding cant wait
hope they build 1000s and 1000s of shoe boxes

pink little birdie11:09 am 11 Mar 22

Time for Margaret Timpson park to get 2 fenced playgrounds – 1 for toddlers where they can get to the slide without assistance and a more challenging one for older children.

Linda Seaniger8:17 am 11 Mar 22

So we can have at least 500 new apartments in this latest development and we are only going to retain the existing amount of current public parking. So we will have another example of the ACT government failing adequately a plan for growth.
we will need more public parking with more people coming into the area living in the area and also more transport options. I live in new the Molonglo valley area and we still don’t have a bus service to Belconnen. We still don’t even have a bridge over the Molonglo river and just a dry weather weir gives us access to Area. The tug Parkway is increasingly carrying more traffic and if we go ahead with that stupid tram and block Commonwealth Bridge even more traffic will be trying to get on that one road that goes from the top to the bottom of Canberra This is shamefully bad planning. We would now have nearly 20,000 people living in this valley. Wake up Canberra The Labour government is definitely not up to the job at hand.

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