A strategically located Queanbeyan development site sold for $3.35 million to a private investor and is set to be a mixed-use project. JLL’s Managing Director- (ACT), Andrew Balzanelli and Senior Executive of Sales and Investments- (ACT), Mitch Frail brokered the deal for 8 and 10 Morisset Street an Expressions-of-Interest campaign and received more than 20 offers.

JLL sells two lots within Queanbeyan situated approximately 15 kilometres east of Canberra’s CBD, across the NSW/ACT border set to support the City Spatial Masterplan.

The site combines two lots totaling approximately 3,558 sqm of land with a 50 metre frontage to Morisset Street. There are currently six improved structures erected on the land.

Mr Balzanelli said, “The Queanbeyan residential market has been attracting buying groups seeking to invest in a buyers’ market and take advantage of the region’s economic and employment profile.”

“Queanbeyan is undergoing generational transformation, with significant construction activity in the central precinct coupled with renewed investment by surrounding asset owners to improve public amenity. A rejuvenated Queanbeyan offers residents and tenants a high level of convenience, increased connectivity and a more cosmopolitan lifestyle,” Mr Balzanelli said.

Queanbeyan-Palerang Regional Council has recently released the Queanbeyan City Masterplan designed to revitalise the Queanbeyan CBD. Morisset Street falls into Stage 7 of that Masterplan.

To request an analysis of the transaction please contact the selling agent via the below contract form.