The ACT government is selling a 15,770 square metre block in Wright for an apartment, office and shop development.
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The vacant land sits opposite open green spaces and playgrounds and next to residential buildings.
Director for residential land marketing for Colliers International in the ACT Shane Radnell said up to 158 apartments could be built on the site, and perhaps even a hotel.
"Previous development in Wright and Coombs has been a mix of apartments and townhouses, and we are finding market demand for townhouses continues to be very strong in the Molonglo Valley," Mr Radnell said.
The CZ5 zone allowed high-density residential near major avenues alongside non-retail commercial uses, commercial accommodation, and limited shops, restaurants and community uses.
"Therefore it can be developed for apartments, townhouses or hotels, or a mix of both."
"In addition the site can accommodate a hotel which if developed would be the first in the Molonglo Valley and possibly be quite attractive to the market."
The auction is on December 6 at the Ainslie Football Club.
