Another prime block of land has been purchased by JWLand, awaiting a multi-use precinct to be built in central Belconnen.

Purchased from the ACT Government Suburban Land Agency (SLA), the 7,125sqm site named Belconnen Central was purchased on Wednesday 9 March for $20.5 million.

Michael Prendergast, National Head of Development for JWLand said “the acquisition of another landmark site strengthens JWLand’s commitment to Canberra and the evolving transformation of the Belconnen Town Centre”.

“Our strength resides in delivering large scale, world class, mixed-use precincts. We are thrilled to build on the success of Campbell5, Founders Land, and Northbourne Village.”

The site is bound by Swanston, Chandler, and Cohen Streets, and will be able to accommodate more than 500 apartments along with additional supporting commercial and retail uses.

JWLand is required to retain the amount of public parking currently on the site, presenting an opportunity for a “vibrant new location” within the town centre.

“The acquisition of this site represents a fantastic opportunity for JWLand to create a sustainable mixed-use precinct in one of Canberra’s most sought-after town centres,” Mr Prendergast said.

“Given its proximity to the city, University of Canberra, and diversity of employment opportunities, the area has matured and commands significant interest as a desirable place to live.”

The Belconnen Town Centre is a sought-after location, and the quality and amenity of the area is expected to improve over the next decade as more land is released.

“Over the coming months we will begin working with our stakeholders to design a precinct that will complement the characteristics of this area,” Mr Prendergast said.

The site is located on Block 17 Section 152 Belconnen.

Canberra Daily would love to hear from you about a story idea in the Canberra and surrounding region. Click here to submit a news tip.