The ACT government has sold three blocks of land on Flemington Road for close to $9 million at auction.
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The three mixed use sites are located in the suburb of Franklin and allow for a combined maximum limit of 198 dwellings. There were 13 registered bidders for the blocks.
The largest site of 7381 square metres allowing up to 96 dwellings sold to BKL (ACT) Pty Ltd for $3.65 million. A block of 6114 square metres sold to POD Property Group for $2.9 million.
POD Property Group managing director Paul O'Donnell said he had been keen to purchase the land following strong interest in Niche at Wells Station, the company's first development, in Gungahlin.
''I think the whole area, being on the light rail strip, has been very popular,'' he said.
Mr O'Donnell said while it was a bit early to discuss exactly what would be built at the site, he was heading towards modern tri-level, four-bedroom, three-bathroom dwellings with a double garage.
He said there was a lot more positivity in the market compared to the same time last year.
The third site of 4350 square metres allowed up to 22 dwellings and was purchased by Strika Homes Pty Ltd for $2.26 million.
Raine and Horne Commercial Canberra sales agent Mark Terracini said the Flemington Road area was becoming quite a vibrant precinct and there was strong interest in blocks released along it.
He said these particular blocks were attractive because they did not have a delayed settlement, which meant developers could begin work almost straight away following development approvals.
Mr Terracini said there had been spirited bidding and the blocks all sold well over reserve. The auctions on Wednesday follow the sale of an almost 8000 square metre site on Flemington Road in Franklin for $3.5 million last year.