Canberra Brickworks site in Yarralumla on the market
The Land Development Agency is selling the 16-hectare Canberra Brickworks site, an infill site in Yarralumla, 3.5 kilometres from Canberra CBD.
The site can yield up to 380 residential properties, plus a hotel, retail, cafes, restaurants, recreational and health facilities, and aged care or retirement living, with the housing component having a potential end value of $500 million.
“The site has significant potential and provides an opportunity for a developer to create a showpiece for urban renewal,” said CBRE’s Andrew Stewart, who is marketing the site with Mark Nicholls.
“The ACT government is seeking developers who understand the opportunity juxtaposed with the significance and history of the site, with the vision being to repurpose this highly valued landholding and create a vibrant new community.”
Mr Nicholls said the government would like a project akin to urban renewal schemes such as Sydney’s Carriageworks and the Yorkshire Brewery in Melbourne.
The 1913 brickworks played a significant role in building the nation’s capital. Its bricks were used in many of the city’s homes and government buildings, including Old Parliament House and the Hyatt Hotel Canberra. It closed in 1976.
The property will be sold via a two-stage process.
