Multi-unit sites in Gungahlin sell for more than $30 million at auction

Allhomes. Canberra. Domain. April 28, 2017. An aerial view of Throsby in Gungahlin. Photo: Supplied

First residential blocks in the Gungahlin suburb of Taylor sell outDemand for properties outstripping supply in growing Gungahlin

The ACT government has sold seven multi-unit sites in Gungahlin for more than $30 million at an auction on Thursday.

The blocks in Throsby, Taylor and Moncrieff were snagged by local developers.

An eighth block in Throsby was passed in at auction and is being negotiated with the highest bidder.

The Land Development Agency sold the Throsby and Moncrieff blocks through Civium Property Group, while Independent Property Group managed the Taylor sales.

Civium Property Group chief executive Doug O’Mara said all blocks received strong interest and the company fielded more than 200 inquiries.

Throsby’s only mixed-use site was the biggest sale of the day, selling for $7.7 million.

The 11,209-square-metre block is suitable for shops, commercial and community use and can house 47 dwellings.

Also in Throsby, a nearby 11,818-square-metre block for up to 36 dwellings sold for $6.3 million, while a 6994-square-metre block for up to 23 dwellings passed in at $3.6 million.

A 4725-square-metre medium density site for 40 dwellings in Moncrieff sold for $3.2 million. It offered direct access to a park with playground areas, barbecue facilities and a sports court.

Four blocks were up for grabs in Taylor, including three multi-unit sites at the suburb’s entrance on Sutherland Crescent.

A 4268-square-metre block for up to 30 dwellings, a 5539-square-metre block for 43 dwellings and a 6025-square-metre block for up to 44 dwellings sold for $3.15 million, $3.875 million and $4.65 million, respectively.

The fourth site, a 4105-square-metre block for up to 15 dwellings, sold for $2.25 million.

Independent Property Group director of project marketing Wayne Harriden said there was a strong demand for townhouse sites among Canberra developers.

“The size of the sites weren’t overly huge, so that opened up the market,” Mr Harriden said.

“All four sold to developers who have done developments in Gungahlin and they have plenty of confidence in the market.”

Prospective residents will have the opportunity to purchase single dwelling blocks in Taylor and Throsby on Sunday.

The 21 blocks in Taylor and 22 in Throsby range from 405 square metres to 804 square metres are among the suburbs’ largest.

More than 2000 people registered for a chance to buy one of 126 single residential blocks in Taylor in March.

The blocks ranged from 250 to 587 square metres and sold for between $221,000 to $383,000.

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