Four mixed-use sites in Canberra Gungahlin sold at auction today for a combined $21.25 million. Competition for these prime sites was strong, Colliiers Director Residential Land Josh Reid said.

“Competition for these prime sites was strong,” Colliers Director Residential Land, Josh Reid said. “We had over 30 registered bidders in the room.”

The blocks ranged in size from 2,705m2 to 10,510m2 and are approved for between 46 and 202 dwellings.

“Greenfield sites do not come to the market very often in Canberra and bidders were certainly conscious that opportunities to secure development sites in our popular town centres are limited,” Mr Reid said.

The final sales results were:

• Block 5 Section 249 (10,510m2) sold for $6,850,000
• Block 6 Section 249 (6,822m2) sold for $5,100,000
• Block 12 Section 249 (4,836m2) sold for $4,200,000
• Block 4 Section 246 (2,705m2) sold for $5,100,000

“The future development of these blocks will bring new residents and amenity to Gungahlin,” Mr Reid concluded.

To request a sales analysis please email either of the selling agent Josh Ried of Colliers via the below contact forms.