City 7 sale to revitalise old Bega Flats site
A new mixed-use precinct that will add to the vibrancy of Canberra’s city heart is one step closer with the start of the sales campaign for the City 7 old Bega Flats site, Director of Urban Projects Nicholas Holt announced today.
“The sale of the almost-12,000 square metre City 7 site by auction on 9 August will be an exciting opportunity for prospective buyers to renew a precinct that will add to Canberra’s status as one of the world’s most liveable cities,” Mr Holt said.
“City 7 is located between suburban Reid, with its tree-lined streets, and the vibrant commercial and recreational areas of the Canberra CBD. The successful buyer will have a great opportunity to develop a precinct that blends these two distinct areas together.”
“The government is committed to providing a variety of housing options for Canberrans, and urban renewal in our city centre, close to shops, entertainment, public transport and employment opportunities, is key to helping the city grow in a sustainable way.
“With the potential for about 350 dwellings the redevelopment of City 7 will allow even more people to live right in the heart of our growing city.”
The sale of the former Bega Flats public housing units is part of the Commonwealth Government’s Asset Recycling Initiative, which provides a 15 per cent bonus to the ACT Government on the sale of ageing public infrastructure.
All remaining public housing tenants will be relocated into updated housing prior to settlement.
The ACT Government’s Public Housing Renewal Taskforce is replacing public housing sold through the scheme with 1,288 new, sustainable public housing across Canberra.
Height limits and other development conditions for potential developments on City 7 are set out in the Reid Precinct Code.
The auction of City 7 is on 9 August 2017. For further sales information please contact the appointed sales agents, LJ Hooker Commercial (Greg Lyons on 0406 995 383 or Mark Thompson on 0438 624 042).
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