A prominent 2,090sqm land holding in Canberra’s popular Inner North mixed-use precinct, Braddon, is set to be redeveloped and revitalised, bringing new life to a prime site.

Director of capital markets at Colliers, Matthew Winter, led the recent sale of the Elouera Street Flats and said it presented one of the few remaining development opportunities within the Braddon precinct.

The site sits on the corner of Elouera Street and Northbourne Avenue – one of Canberra’s most recognisable corner locations.

The Elouera Street Flats are comprised of 16 separate units that were sold in one-line after three years of preparation by various owners and Colliers.

“It is great to see the new owners looking to capitalise on this potential and bring new life to such a well-known location,” Mr Winter said.

The purchaser, Rowan Liebke of Liebke & Co, is currently contemplating how best to utilise the prime location.

“We are looking at all of our options for this incredible site. We had the site originally slated for a world class, low environmental impact workspace anchored by a global tech giant, however, the overwhelming need for boutique residential apartments has seen our team running a dual strategy,” Mr Liebke said.

“The location is second to none, laying the canvas for us to deliver a stunning asset. Canberra has a very stable commercial and residential market; we are extremely confident to continue to make investments in the area.”

The ongoing interest of interstate purchasers for value-add type opportunities in the ACT is indicated by this sale, Mr Winter said.

“This sale, in particular, has been an excellent barometer for how the national capital is perceived by institutional investors and developers, despite an arguable national slowdown,” he said.

“Our sound market fundamentals, despite the wider macroeconomic environment, provides a continuing level of security and confidence.”

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