Site of failed $20m Bruce housing and hotel complex hits the market

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The undertaking was to incorporate two separate, however joined buildings. One was set to function a six-storey resort and performance room; the opposite a five-storey block containing 31 flats.

An artist impression of the $19.75 million housing and hotel complex planned for the Bruce site, which never got off the ground.

An artist impression of the $19.75 million housing and resort advanced deliberate for the Bruce web site, which by no means acquired off the bottom.

Plans had been accepted in February 2016, however the undertaking by no means acquired off the bottom. The positioning was subsequently offered to Turner-based Maxon Property Group, Mr Woolgar stated.

He stated the developer had initially deliberate to push forward with a redevelopment of the location, earlier than sturdy latest land gross sales promoted it to think about placing the location again in the marketplace.

Mr Woolgar anticipated the location would fetch between $5.5 and $6.5 million, and draw curiosity from interstate builders, significantly from Sydney.

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“Everybody is aware of there may be numerous flats in Belconnen, however Bruce is slightly bit by itself and there may be not plenty of inventory there,” Mr Woolgar stated.

“It is a longtime space and the demographic is of individuals on an excellent earnings and there is numerous households, too.”

Mr Woolgar stated the chance could be significantly engaging to builders as a result of it didn’t contain government-owned land, which topics consumers to sure growth circumstances.

Expressions of curiosity for the location shut at 4pm on March 7.

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