ACT government sells Lawson development sites for more than $25 million in online auction

Released by the Suburban Land Agency, the two blocks have the potential to add more than 200 homes to Lawson, located in the Belconnen district.

A 9372-square-metre block, known as block 1, section 51, sold for $16.2 million to SAP Canberra PM Pty Ltd.

The RZ5-zoned block has potential for 66 to 150 residential dwellings to be developed on the land.

Government records list the company director as Peter Micalos, who is currently developing a 313-apartment complex as part of the redevelopment of the Belconnen Markets.

A smaller, 8091-square-metre block, known as block 1, section 50, sold for $9.25 million to Arealti Lawson Pty Ltd.

The RZ4 block is zoned for between 32 and 57 residential dwellings.

The two blocks are located adjacent to Ginninderra Drive and will form stage 2A of Lawson.

A Suburban Land Agency spokesperson said there were approximately 20 bidders registered for each of the Lawson auctions, with representation from local and interstate purchasers.

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Colliers International managed the Lawson sales on behalf of the agency.

In a statement issued when the blocks were first released to the market, Colliers director of land marketing Josh Reid said many developers would be attracted to the sites.

"These blocks are directly across from the University of Canberra Hospital and have really good connectivity with arterial transport corridors. New homes located in new land releases are particularly popular with home buyers in the ACT," he said.

"We know there are lots of builders around town who have completed their current projects and chomping at the bit to find the next perfect opportunity."

Following the Lawson sales, the Suburban Land Agency took another development site to auction on Tuesday.

The 16,303-square-metre block on Northbourne Avenue sold for $59.3 million.

Suburban Land Agency CEO John Dietz said the results were "great news for Canberra".

"It means we are another step closer to providing more housing choices for our community," he said

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