Denman Prospect set to be leader in environmental design

Land sales at Canberra’s newest suburb, Denman Prospect, will begin today, with 40 residential blocks to go under the hammer this morning.

Upon completion, Molonglo Valley’s third suburb will be home to about 4000 dwellings. The first parcels of land are expected to sell from about $450,000 to $550,000.

Capital Property Group has invested $241.3 million in the suburb, with the first residents expected to be in their homes by December 2016. Civil works on the first 400 detached housing sites are under way and expected to be completed in April.

As the suburb progresses, Capital Property Group project director Nick McDonald Crowley says the population will contribute to the surrounding local businesses. With local convenience shopping slated for future development in the suburb, the residents will be also be serviced by the Molonglo Valley’s first community hub in the neighbouring suburb of Coombs.

The Coombs 8424-square-metre local centre site and 8844-square-metre community precinct site were sold under the hammer in March for $2.7 million and $4 million respectively.

“It will be diagonally opposite Denman Prospect and include a full-line supermarket,” McDonald Crowley says.

“The centre will be about the same size as the Jamison or Kippax.”

The Land Development Agency has identified three stages of delivery for Denman Prospect, with stage one set to deliver about 2000 dwellings. Future additions to the suburb include two proposed school sites and a small local centre.

Denman Prospect is set to be a leader in environmental design and is the first suburb in Australia to have a minimum requirement for solar power at each home.

“The building and design guidelines for Denman Prospect include the requirement for a 3 kw solar system on each household,” managing director Stephen Byron says.

Capital Estate Developments, part of Capital Property Group, has negotiated a bulk purchase of solar systems from ActewAGL to supply the suburb’s first 350 homes with solar power.

These 350 homes will generate the electricity equivalent of a 1.5 MW solar farm.

“We aim to create the most remarkable suburb and it will include a solar component, a contribution towards homelessness services and public art installations,” McDonald Crowley says.

A minimum of 20 per cent of the stage one dwellings will be affordable housing and include 72 public housing dwellings.

The auction will take place at 10am today at the National Convention Centre.

See denmanprospect.com.au