Our most recent issue of Canberra Cityscope will show that the value of sales for the year to date has increased to $651.8 million, an increase from the $413.7 million recorded for the same time last year. 

Hoping to take advantage of this rising market is 70 Allara Street, City. It is being marketed as a ‘high profile development site’ by Nick Perdue, Andrew Stewart and Stuart Cox of Savills. Previously occupied by the Werriwa Defence Facility, the vendor is the Australian Government.

It is an exceptional property comprising of 7,640 sqm in the middle of the CBD. Apparently the Crown lease being offered can incorporate a number of different uses and comes with unrestricted gross floor area. Its idealic location includes close proximity to City Hill Park and Canberra’s Olympic Swimming Pool and a short walk to Lake Burley Griffin and Commonwealth Avenue, which connects City Hill and Capital Hill, the location of Parliament House.

The property is for sale by expressions of interest closing 4pm Thursday 19th, December 2019.