Googong Town Centre project in NSW gets boost from development site sale
The Googong Town Centre – which will include a Coles, a medical centre, a gym, a library, a community centre and a pub/function centre – is expected to cost $82 million to construct.
The post Googong Town Centre project in NSW gets boost from development site sale appeared first on Inside Retail.
A new town centre and retail project planned for Googong on the outskirts of Canberra has been boosted by the sale of a development site with the potential for fuel and large-format retail, among other uses.
The Googong Town Centre – which will include a Coles, a medical centre, a gym, a library, a community centre and a pub/function centre – is expected to cost $82 million to complete.
Googong is located 16km southeast of Canberra’s Parliament House and 8km south of Queanbeyan in NSW. The project has a 450-metre frontage and is expected to become a focal point and hub for the Googong community. Construction is expected to commence later this year with an opening date scheduled for 2025.
This month’s sale of a 1.184ha site adjacent to the town centre by Googong Township Pty Ltd (GTPLT) was negotiated by Colliers with 10 offers received from both local and interstate developers. The site fetched $8.75 million.
“The Strategic B2 Local Centre zoning of the site, enhanced by the 2:1 FSR will allow for the delivery of fuel, fast food, childcare and large format retail, providing much-needed retail amenities for the residents of Googong,” said Colliers’ James Wilson.
The winning bidder was Stevens Group, which has experience in developing premium retail sites and will partner with GTPL in the planning of any development on the space.
Colliers’ Ben Wilkinson said the population of the Googong and surrounding community is forecast to grow at an average annual rate of 6.1 per cent through to 2035.
The post Googong Town Centre project in NSW gets boost from development site sale appeared first on Inside Retail.