Lathlain Street development land, opposite Westfield Belconnen, for sale by Suburban Land Agency

A mixed-use development of up to 18 storeys is allowed to be built on the block, located on the corner of Lathlain and Cohen streets opposite Westfield Belconnen.

The ACT government's Suburban Land Agency has released the 5700-square-metre site for sale as part of a new precinct called Belconnen Village.

"Belconnen Village is marked as part of the Belconnen renewal process, which will ultimately deliver tree-lined streets, slow traffic zones and a vibrant day-to-night economy with alfresco dining," the agency's website stated.

Future land releases are planned for neighbouring blocks along Lathlain Street.

Among the development options for the block are residential homes, shops, restaurants, a club or drink establishment and commercial accommodation.

A total 436 homes can be built on the site, with a requirement for 55 affordable and seven community homes.

Commercial agency CBRE has been appointed to market the block for sale.

CBRE managing director, ACT Nic Purdue said it was a "landmark site" within the renewal plans for Belconnen.

He said Canberra's "major players" in the development space would be looking at the land, as well as interstate buyers.

"We think that given the size and the scale of the opportunity, it will appeal to some of the interstate developers," he said.

"We've certainly seen on the back of other recent land releases that there is definite interest from some of these groups looking at Canberra."

The Suburban Land Agency last year sold a block on nearby Walder Street, as part of the upcoming Belconnen Village precinct.

A local developer paid $12,005,000 for the 6400-square-metre block.

Mr Purdue said that figure would be a "starting point" for the Lathlain Street release.

The Suburban Land Agency has also released a block for sale in nearby Lawson.

The 11,500-square-metre block, off Ginninderra Drive, is part of Lawson stage two.

Up to 184 homes could be built on the site, with a requirement for 23 affordable homes and five community homes.

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It is required to be an all-electric development that includes electric vehicle charging infrastructure and a rooftop solar system. A 30 per cent tree canopy is also a requirement of the development.

CBRE associate director Tristan Cotchett said the site is expected to draw strong interest when it goes to auction.

"It will be local and interstate developers that have really been hanging out for another opportunity to develop a large scale precinct," he said.

Both blocks will be auctioned on August 23.

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