This article is from the Australian Property Journal archive
Canberra property developer Evri has sold its development site in the inner northern suburb of Braddon to fellow local Geocon.
Located at 220 Northbourne Avenue, the site was previously approved for a $250 million build-to-rent development.
According to plans drawn up by architectural firm Fender Katsalidis, the BTR development would comprise 393 apartments with 5,600 sqm of retail commercial space across three buildings.
It would have been Canberra’s second BTR development, however, plans fell through.
Geocon is planning a mixed-use precinct comprising of retail spaces and 550 apartments.
Geocon CEO Damon Smith said a new development application will be submitted.
“We will soon be lodging a DA for the site, delivering a project that we feel fits the gateway of the Canberra CBD.”
“Our history of delivering mixed-use precincts around major town centres of Canberra lends itself to this site. It is the right size and right fit for what we deliver, and we look forward to filling a large void in the housing market in the ACT on this site.”
The 10,663 sq m site is at the key intersection of Northbourne Avenue and Wakefield Avenue, with direct access to Macarthur Street Light rail station. It is less than 3km from Canberra CBD and 8km from Canberra Airport.
Work on the site is expected to commence in 2025 or early 2026.
CBRE’s Nic Purdue and Tristan Cotchett handled the deal.
