Canberra property owners and developers, Doma and the Goodwin and Kenyon Group, have secured a development site adjacent to the Parliamentary Triangle known as Block 3 Section 22 in Barton, ACT.

The property, marketed by Deloitte Real Estate partner Stephen Hynes on behalf of the Department of Finance comprises of a vacant development site with an area of approximately 11,560 square metres, located on the corner of Sydney Avenue and National Circuit and is adjacent to the Little National Hotel, developed and owned by Doma in 2012.

Doma Managing Director, Jure Domazet said, “we have been actively developing in Barton since 2003 when we purchased and developed the old Macquarie Hostel that is now known as the Realm Precinct directly across the road.”

At a glance:

• Canberra property owners and developers, Doma and the Goodwin and Kenyon Group teamed up to acquire a development site via a tender from the Commonwealth in Barton, ACT.
• Deloitte Real Estate partner Stephen Hynes conducted the sale process on behalf of the Department of Finance via a single stage tender.
• The site may be developed into office accommodation or a hotel, with construction expected to start in early 2020.

Doma Hotels also operate the 5-star Realm Hotel and 4.5-star Burbury Hotel. The Realm precinct is set to benefit from further development of this site nearby.

The site, within 500 metres of Parliament House and near several Commonwealth Government Agencies, is suitable for a landmark mixed-use development. The National Capital Plan contemplates a range of uses for the site, consistent with the surrounding development, which includes national capital use, commercial office, hotel, residential apartments and ancillary purposes (including car parking, retail and cafés/restaurants).

General Manager of Development, Gavin Edgar added, “our preference is to look at developing new office accommodation of up to 40,000 square metres in one or two buildings catering to Commonwealth and private sector tenants, but we may also explore another hotel given the future demand we expect." 

"We expect to start construction in early 2020 subject to planning approvals,” Mr Edgar said. 

Doma has delivered five Commonwealth buildings for the Department of Health, ATO, DHS and the National Archives and has over 40,000 square metres of new office either under construction or planned for later this year in both Canberra and Newcastle.

Additionally, the Goodwin and Kenyon Group has been an active property and investment group in Canberra since the mid-1960s and welcomes the opportunity to join with the Doma Group.

David Kenyon, a principal of the Goodwin and Kenyon Group, said, “the site provides a unique opportunity to create a first class development which will enhance the position of Barton as Canberra’s most prestigious precinct.”

The sale process was conducted by Deloitte Real Estate via a single stage tender. Potential buyers were invited to review the request for tender documentation and due diligence material available and submitting their binding offer to purchase the property by 16 May 2019.

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