Canberra’s historic Brickworks site put up for sale

Canberra’s historic Brickworks site put up for sale
Canberra’s historic Brickworks site put up for sale

The historic Canberra Brickworks site has been put up for sale by the ACT government with plans for a mixed-use project that includes residential.

The 16 ha property is a key infill site in Yarralumla, one of Canberra’s top suburbs which is also home to embassies and the Governor-General’s residence.

Up to 380 homes could come up on the site, in addition to retail, cafes, restaurants, recreational and health facilities, aged care and retirement living, said a press release by CBRE, which has been appointed by the Land Development Agency (LDA) to market the offering.

 CBRE’s Andrew Stewart, who is managing the campaign with Mark Nicholls, said the residential component alone could unlock more than $500 million.

“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,” Stewart said.

The Canberra Brickworks was established in 1913 and has played a significant role in the building of the nation’s capital, with the iconic red bricks featured in many of the city’s homes and significant government buildings, including Old Parliament House and the Hyatt Hotel Canberra.

When construction of Old Parliament House began in 1923, the project was so large that a rail system was established to transport more than four million bricks to the site.

Production rates hit an all-time high in the 1950s as Canberra experienced its first population boom. However, by the mid-1970s, technology and housing trends had changed and the brickworks closed in 1976.

Stewart said the site’s location, just 3.5 kilometres from the CBD, would be a key drawcard for developers.

“Situated on the southern shore of Lake Burley Griffin, next to the Parliamentary triangle, Yarralumla is one of Canberra’s most recognisable and prestigious suburbs with a median property price of $1,135,000 compared with the Canberra median of $620,000,” Stewart noted.

The sale will be a two-stage process. The first stage will invite submissions through a Request for Proposal (RFP) while the second will see shortlisted companies invited for a Request for Tender (RFT) process.

CBRE’s Nicholls said the government’s vision was for the site to be transformed along the lines of urban renewal projects such as Sydney’s Carriageworks, the Midland Railway Workshops in Perth and Yorkshire Brewery in Collingwood, Melbourne.

The Carriageworks was converted from a rail construction hub into a multipurpose art centre, which has become a highly successful collaborative space. More than 500,000 people visited the site in 2014.

The 1887-era Yorkshire Brewery has been resurrected as luxury apartments, while the cluster of 19th century buildings that make up the Midland Railway Workshops are being revitalised to feature a large public square, surrounded by a diverse mixture of residential, commercial, health and entertainment buildings.

 

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Canberra Residential Developent

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