ACT government to sell Campbell section 5 development site

It's been billed as the biggest Canberra commercial property asset to hit the market in years.

The ACT government is preparing to sell the Campbell section 5 development sites in the city’s north - the biggest auction in Australia's capital city since 2007. 

The sites have the potential to accommodate development projects with an end value of about $350 million.

The government’s Land Development Agency has appointed CBRE and Raine & Horne Commercial to separately auction the five sites which have masterplan approval for residential, retail and commercial uses plus a boutique hotel, parkland and walking paths.

The sites will go under the hammer on June 11.  

"We have already fielded strong preliminary interest from local and interstate developers in what is one of the most significant Canberra development offerings to be listed for sale in decades”, CBRE’s Canberra managing director Andrew Stewart.

The five sites, some with frontages onto Constitution Avenue, have a total land area of 6.4 hectares. They range in size from 2,095 square metres to 7,020 square metres, and offer opportunities for mixed use, residential and commercial development, with two sites identified as suitable for a hotel.