Established Canberra developer Village Building Co. Limited has announced the acquisition of nearly six hectares of prime residential land at Weston, for over $30 million.
Established Canberra developer Village Building Co. Limited has announced the acquisition of nearly six hectares of prime residential land at Weston, the former Australian Federal Police Training College, for over $30 million.
Village Building Co. is proposing to develop a residential townhouse community of varying configurations on the site that fits in with the character of the Weston Creek area and appeals to the broadening Canberra market.
The development will rejuvenate the underused northern part of Weston, giving Canberrans the rare opportunity to live in a new townhouse located in an established and sought-after suburb.
Travis Doherty, Chief Executive Officer of Village Building Co., said the acquisition of the Weston site furthered the company’s strategy to deepen its offering in its home base of Canberra.
“We are thrilled to have secured this beautiful infill site in Canberra. It’s a terrific location within walking distance to the Weston Group Centre and accessible to the major employment hubs of Woden Town Centre and Civic and is well connected to the rest of Canberra via Tuggeranong Parkway, Hindmarsh Drive and Cotter Road.”
“It will also provide purchasers with the opportunity to combine a relaxed lifestyle with the convenience of nearby schools, employment, retail, restaurants and parklands. The popular Stromlo Forest Park, a personal favourite of mine, is within easy bike riding distance.”
Cox Architecture has been appointed to lead the design process. The design will incorporate a strong sense of green amenity for the community including the established verge trees, new deep-root planted community areas and gardens. A high proportion of the dwellings will be solar passive and all will be cross ventilated.
The project will be launched in the first half of 2018, marking Village Building Co.’s 30th anniversary. The site was secured in a competitive Expression of Interest process conducted by Savills Real Estate Consultancy in Canberra.
“The property generated strong interest from both local and interstate investors looking to capitalise on Canberra’s continued low vacancy rates, stable rents and the amenity of a new development within an established suburb,” Savills ACT Director Andrew Stewart said.