Raine & Horne Commercial Canberra are pleased to offer this rare multi unit residential development opportunity for sale.

28 Wakefield Avenue is located within the affluent inner north Canberra suburb of Braddon with easy access to Northbourne Avenue and only a short stroll to the Macarthur Avenue light rail stop connecting Canberra CBD with Dickson Group Centre and Gungahlin Town Centre.

A 668sqm regular-shaped block with northern aspect fronting Wakefield Avenue and zoned RZ4: MEDIUM DENSITY RESIDENTIAL under the ACT Territory Plan. In 2018 the Crown Lease for the block was varied to permit multi unit housing of not more than five (5) dwellings. The Lease Variation Charge (LVC) was paid upon the approval of the variation.

Sketch plans have been drafted by a reputable architect showing a 5-unit development that could potentially be developed on the block comprising a 3-bed apartment on the ground floor, two 2-bed apartments on Level 1, two 2-bed apartments on Level 2 and a 9-bay basement carpark. These plans can be made available upon request (noting they are not DA Approved and are pursuant to current planning controls). A Development Application would need to be lodged by the buyer, and approved by ACTPLA, prior to the commencement of any development.

The property currently comprises a well presented single-level detached dwelling which is currently leased at $970 per week. The house comprises 4 good sized bedrooms, study, bathroom, toilet, kitchen with tiled floor and separate living and dining room. The house benefits from hardwood timber floors in the hallway, living room and dining area, carpets in the bedrooms and ducted heating throughout. There is a concrete verandah at the rear with steps leading down into a large back garden and double car garage accessed vis a side gated driveway.

The property will be auctioned at 11am, Wednesday 26th July 2023 at Ainslie Football Club.

To receive a copy of the sales contract or to arrange a private inspection, please contact Mark Nicholls of Raine & Horne Commercial Canberra on 0417 239 551.