DOMA and the Goodwin and Kenyon Group have teamed up to acquire a prime development site via tender from the Commonwealth adjacent to the Parliamentary Triangle known as Block 3 Section 22 in Barton, ACT
The property, marketed by Deloitte Real Estate on behalf of the Department of Finance comprises a substantial, vacant development site with an area of approximately 11,560m², located on the corner of Sydney Avenue and National Circuit and is adjacent to the Little National Hotel, developed and owned by DOMA in 2012.
The site, within 500 metres of Parliament House and near several major Commonwealth Government Agencies, is suitable for a landmark mixed-use development. The National Capital Plan contemplates a range of uses for the site, consistent with the surrounding development which includes national capital use, commercial office, hotel, residential apartments and ancillary uses (including car parking, retail and cafés/restaurants).
DOMA’s Managing Director, Jure Domazet said “we have been actively developing in Barton since 2003 when we purchased and developed the old Macquarie Hostel that is now known as the Realm Precinct directly across the road”. Doma Hotels now run the hugely successful 5-star Realm Hotel and 4.5-star Burbury Hotel and the Realm precinct is set to benefit from further development of this site nearby.
General Manager of development, Gavin Edgar said “our preference is to look at developing new office accommodation of up to 40,000m2 in one or two buildings catering to Commonwealth and private sector tenants but we may also explore another hotel given the future demand we expect. We expect to start construction in early 2020 subject to planning approvals”.
DOMA has a strong track record of delivering five Commonwealth buildings for the Department of Health, ATO, DHS and the National Archives and has over 40,000m2 of new office either under construction or planned for later this year in both Canberra and Newcastle.
The Goodwin and Kenyon Group have been an active property and investment group in Canberra since the mid 1960’s and welcome the opportunity to join with DOMA to deliver a quality project in the heart of one of Canberra’s most important precincts. David Kenyon, a principal of the Group, said “the site provides a unique opportunity to create a first class development which will enhance the position of Barton as Canberra’s most prestigious precinct.”
The sale process was conducted by Deloitte Real Estate via a single stage tender with potential buyers invited to review the request for tender documentation and due diligence material available and submitting their binding offer to purchase the Property by the 16 May 2019. Details of the price and settlement terms remain confidential.