Build-to-rent development proposed for JWLand's Braddon Place on Northbourne Avenue

Developer JWLand is seeking an amendment to its original development application, which is still under consideration, proposing to remove the 239-room hotel component and replace it with build-to-rent units.

The units would be reconfigured and increased in size to deliver 128 rental apartments.

There would be no change to the 602 residential apartments also proposed for the development.

Dubbed Braddon Place, the development at block 10, section 8 Braddon is located between Northbourne Avenue and Henty Street, with Haig Park to the south.

Once complete Braddon Place will include six buildings, ranging in height from six to nine storeys plus two levels of basement car parking.

JWLand purchased the 15,607-square-metre block from the Suburban Land Agency in 2020 for $28 million.

The site was previously home to the Northbourne flats, part of a broader public housing precinct on Northbourne Avenue that was sold in stages by the ACT government.

Build-to-rent developments are designed and built as long-term rentals and are owned by a single company, as opposed to a regular apartment block where dwellings are sold to individual owners.

Build-to-rent is gaining momentum in the ACT and the territory government is backing the housing model with a series of incentives for investors.

Typically, build-to-rent developments have a high level of shared amenity and inclusions for renters.

The original development application for Braddon Place included commercial units that were earmarked for restaurants and other retail businesses. These have been repurposed as build-to-rent amenities.

The updated plans include a concierge and parcel delivery room, co-working space, a large gym and bicycle workshop, as well as communal kitchen and entertaining spaces.

A rooftop terrace on one of the buildings has also been added to the design.

Michael Prendergast, head of development at JWLand, said the Braddon site provided an ideal location for a build-to-rent development.

He said a build-to-rent complex would encourage more social interaction between residents than a regular apartment building.

"Build-to-rent gives people the amenity ... and a form of infrastructure in a manner that's managed for the benefit of the residents," he said.

"From our perspective why would we not want to deliver a product that enables residents to participate in movie nights, morning personal training sessions or monthly sunset drinks on the rooftop garden," he said.

MORE PROPERTY NEWS:

Discussions are underway to secure an owner and operator for the build-to-rent component, but Mr Prendergast would not disclose any particular companies that might be interested.

"There is, at the moment, a large demand from investors and funds alike in locations such as Braddon," he said.

"Canberra is a natural progression to any of the build-to-rent portfolios, given the population growth, the rental vacancies and the yields."

The amended development application is open for public representation until March 8.

Meanwhile JWLand will move ahead with its plans for a 156-room serviced apartment or hotel in Lyneham.

The developer has submitted a development application for the fourth and final stage of Northbourne Village at block 12, section 51 Lyneham.

The proposal is for a nine-storey block with three, ground-floor commercial tenancies and commercial accommodation on the floors above.

The application stated a "known hotel and serviced apartments operator" will be engaged to run the hotel once construction is complete.

We've made it a whole lot easier for you to have your say. Our new comment platform requires only one log-in to access articles and to join the discussion on The Canberra Times website. Find out how to register so you can enjoy civil, friendly and engaging discussions. See our moderation policy here.