IP Property Fine-Tunes Belconnen Apartment Scheme

A Canberra-based developer is making final tweaks to its Markets Residences at Belconnen, adding extra apartments to the under-way project.

IP Property wants to lift to 326 the number of apartments in the 10-storey project funded by Jericho Capital, now rising at 14 Ibbott Lane, north-west of the capital’s centre.

The latest changes add four apartments, redesigns the small office, home office apartments and creates new two-storey community facilities, as shown in plans on exhibition with the ACT Government until October 27.

The original Cox Architecture-designed scheme comprised 315 apartments across 10 storeys including five retail units and four levels of basement parking for 529 cars.

A rooftop swimming pool, garden, outdoor dining, central courtyard, waterfalls and archways by Made LA Design were also part of the plans filed in 2021.

There are 166 one, 122 two, 29 three and 9 four-bedroom apartments in the revised apartment complex, 7km north-west of the CBD.

▲ A rendering of the central courtyard at The Markets Residences.

Icon Construction has begun work on The Markets Residences, which are due for completion in mid-2026. 

Belconnen is undergoing an evolution on the back of the opening of The Capital Food Market in 2023, which is across the road from IP Property’s site.

Meanwhile, NDH Property Group, a joint-venture between Evri Group and KDN, is moving ahead on their Linq precinct with two 13-storey green towers planned for stage two.

There are also residential towers of 19 and 27 storeys as well as two build-to-rent buildings in the precinct. 

Belconnen is the sixth most affordable place to rent in the ACT with a vacancy rate sits at 1.6 per cent, according to Cotality’s quarterly review released in June.