Gungahlin Town Centre sites sell for more than $21m

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Four mixed-use sites in the Gungahlin Town Centre have sold under the hammer for more than $21 million.

The sites, ranging from nearly 3,000sqm to around 10,500sqm, sold for a combined $21.25 million, according to Colliers International director of residential land, Josh Reid.

“Competition for these prime sites was strong,” said Reid. “We had over 30 registered bidders in the room.”

“Greenfield sites do not come to the market very often in Canberra and bidders were certainly conscious that opportunities to secure development sites in our popular town centres are limited.

“The future development of these blocks will bring new residents and amenity to Gungahlin.”

The blocks are approved for between 46 and 202 dwellings; three are adjacent to one another.

The Gungahlin Town Centre sites went to auction today, Wednesday 12 May, sold by Colliers on behalf of the ACT Suburban Land Agency.

A Suburban Land Agency brochure referred to the sites as a “chance to build in a central location close to a thriving shopping and entertainment precinct”.

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