The ACT Government is moving to sell the next land release in the Kingston Foreshore – marking one of the last opportunities to acquire waterfront real estate in the precinct.
Following the sale of 13 development sites on the foreshore since 2007, CBRE’s Andrew Stewart and Mark Nicholls have been appointed to sell site 14 – a 3,697sqm parcel offering uninterrupted north facing views over Lake Burley Griffin.
“Site 14 really is the best of the best, with Kingston Foreshore being one of the most desirable locations in Canberra to live, eat and play,” Mr Stewart said. “With a number of new bars and restaurants opening in the past 12 months, the area is vibrant and the sales of apartments off the plan are continuing.”
“Over the past nine years, Kingston Foreshore has continued its popularity with each land release attracting strong and more diverse developer interest,” Mr Stewart explained.
Mr Stewart said the sale would unlock an opportunity to undertake a landmark project in the rapidly evolving Kingston Foreshore project.
Mr Nicholls said the site represented an outstanding opportunity to acquire a footprint in Canberra’s landmark urban renewal project.
“Kingston Foreshore is widely regarded as one of Canberra’s most prestigious residential locations and, as such, we expect this site to attract strong interest from residential developers and hotel operators looking to capitalise on the premium waterfront position.”
Conjunctional selling agent, Independent Property Group’s Wayne Harriden, said previous waterfront developments on the foreshore had achieved strong success.
“We have witnessed incredible demand for residential opportunities at Kingston Foreshore, with all units offering water views selling out quickly in the Element, Atelier, Peninsula and Azure projects,” Mr Harriden said.
“There has also been outstanding demand for penthouse apartments that offer views across Lake Burley Griffin, with these prestigious properties generally the first to sell.”
Mr Harriden said the strength was further demonstrated by the resale of waterfront units, with these limited opportunities snapped up quickly at premium prices.