This article is from the Australian Property Journal archive
A 40,102 sqm site, home to the Commonwealth Scientific and Industrial Research Organisation (CSIRO) in Canberra, is being offered for sale by vacant possession.
The large Canberra inner city site currently houses the 6,123sqm NLA HQ of CSIRO.
A development control plan was recently approved by the National Capital Authority for the development of up to 60,000 sqm GFA and the opportunity to introduce residential development into the site.
Colliers International national director of capital markets Tim Mutton said the site will attract investors and developers seeking an asset with a commanding location and numerous avenues for adding value.
“There are very few sites of this scale in the inner suburbs of Canberra that are not being offered for sale by the government,” he said. “The CSIRO site delivers the potential for purchases to add value through refurbishment or repositioning of existing buildings or larger scale redevelopment.
“This site is well-positioned for purchasers to develop a large scale master planned precinct adjacent to the heart of the CBD with sweeping views to Canberra’s CBD and Parliament, and with a arrange of dwellings and mixed-use purposes allowable on the site.” Mutton said.
Australian Property Journal
