The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
16
print
Print
RetailFri 22 Jun 18

Morris Property Plans $500m Project as Investment Flows in Canberra

0f008beb-dc37-41ab-b813-d71c37436a2a

Developer Morris Property Group has launched plans for a multi-use 1200 apartment development in Canberra with an estimated end value of $500 million.

The development, Section 100, will transform a 2.6-hectare site used as a car park located between Vernon Circle and London Circuit in the nation’s capital.

Section 100 will be developed over four stages, with architects FJMT studio at the helm.

Director Barry Morris said the Group is working closely with the architect to explore a number of different options for the site.

“Including a mix of residential apartments, retail and commercial office buildings. We are excited stage two of the Canberra Light Rail is proposed to pass the site,” Morris told The Urban Developer.

“We expect the site to eventually consist of four buildings.

“The project will bring long-awaited revitalisation to what is currently an underutilised part of the city.”

Related: Elanor Buys Retail Asset, Surpasses $1bn in Assets

Building heights are likely to range from 25 to 53 metres.


Acquired by property giant Mirvac in 2007 for $93 million from the ACT government, the Morris Property group snapped up the site for $85 million in a deal that settled this week.

Proving investment dollars are flowing in the nation’s capital, a $1 billion project by developer Geocon is under way in what will be Canberra’s largest-ever development. The Canberra-based developer will work with Goldman Sachs to fast-track the Republic precinct project in a financing deal announced this week.

Colliers International state chief executive Paul Powderly will manage the Section One sales of the development.

“Section 100 is in the middle of a major employment hub which includes many Commonwealth Government departments, and is of course a short walk to the city’s shops and restaurants,” Powderly said.

“With current rental vacancy rates in Canberra the lowest in Australia, at less than one per cent, this project will bring much-needed supply to cater to this ongoing demand,” Morris said.

The Morris Group received approval for a revised development application earlier this year for a Spring Hill tower in Brisbane. Located at 152 Wharf Street the proposal for the office tower replaces the original application for a 30- storey residential tower.

RetailResidentialOfficeAustraliaCanberraSector
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
The 510-apartment Triniti Lighthouse development has received conditional planning approval despite community objections…
LATEST
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/morris-property-plans-500m-project-as-investment-flows-in-canberra-