Rare Development Site on Northbourne Avenue Hits the Block

As Canberra’s new light rail network draws residents, shoppers, visitors and diners to precincts located along the route, Northbourne Avenue, the gateway to the national capital, has been revitalised and developers now have the opportunity to secure one of the corridor’s best sites.

Positioned in the heart of Canberra and with a light rail stop on its doorstep, Macarthur on Northbourne has all the right ingredients to become the city’s next major destination.

The 13,663 sqm site is zoned CZ5 mixed-use, permitting a wide range of uses including multi-unit residential, retail, hotel, serviced apartments, restaurants and commercial.

The ACT government has appointed Colliers International and JLL to sell the site.

“Macarthur on Northbourne is just minutes from the CBD and the exceptionally popular Dickson and Braddon dining precincts,” Colliers International director, land marketing, Josh Reid said.

“From this location, everything is in reach including shopping, dining, entertainment options, business centres and some of Canberra’s most beautiful nature reserves and parks.

“Since the light rail network began operation, we have experienced a significant upswing in residential demand, while new hotels, shops, offices and restaurants have also opened.

Whatever type of development the successful tenderer plans, the location of Macarthur on Northbourne will provide excellent access for residents, customers or guests.”

JLL ACT managing director Andrew Balzanelli said that sites on Northbourne do not come to market often.

“Particularly sites of this calibre. It really is the biggest little block on Northbourne,” Balzanelli said.

“With a dwelling yield of 434, Macarthur on Northbourne has the potential to be a vibrant mixed-use precinct where people want to live and spend time.

“With a light rail stop directly out the front, you can imagine its shops, cafes, restaurants and bars drawing people from across Canberra as well as servicing daily commuters and employees from surrounding offices.”

Tenders for Macarthur on Northbourne close 2pm, Thursday, 13 August 2020. To obtain a copy of the tender documentation, please contact JLL or Colliers International.

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