Boutique development backing reserve on the horizon for Chifley

Nestled into a quiet corner, looking out over nature, lies a quaint, new development coming soon to Chifley. Comprising just five townhouses, the tucked-away development named Wattle Lane offers a rare opportunity for Canberrans looking for something boutique in the development market.

Wattle Lane is built across two blocks and is one of a handful of properties in the area that backs onto a nature reserve while still having the benefit of flat surrounding land.

“We’ve worked very closely with interior designers and architects on Wattle Lane to maximise two things: northern orientation and the relationship with the reserve,” says Matt Shipard of HIVE Property.

“The fact that it backs onto the reserve but is still a flat walking distance to the shops and local amenities is an attractive option for buyers.”

Offering townhouses with house proportions, Wattle Lane exhibits a small selection of private residences within a complex, without compromising on any fundamentals that make a house feel like a house.

“Three of the properties are fully stand-alone houses on slightly smaller blocks, so it’s more like a dual occupancy,” Shipard says.

“The emphasis was on keeping the townhouses as separate as possible with larger living areas and low-maintenance gardens. Plus, the properties have high ceilings of up to 3.6 metres with pop-up windows that make the spaces feel much bigger.”

Shipard says he expects to see a mix of interested buyers because of the homes’ close proximity to amenities and easy access to main arterial roads.

“There will be young families and we’ll also see an older demographic of downsizers who will make use of the flat walk to Woden Town Centre, and the proximity to daily needs like shops and medical facilities,” he says.

“We anticipate a like-minded community of people drawn to the same things, but with a diverse demographic.”

But the rarity of Wattle Lane’s features doesn’t end there, thanks to its uncommon placement across two residential blocks.

“Two blocks side by side is rare, particularly in the current market, because prices for residential properties are getting higher, and the yield for a developer isn’t necessarily increasing at the same rate that purchase prices would be,” says Shipard.

“It’s becoming less common because it’s just not feasible for developers to do it. They can buy single blocks, but then you have the compromise that comes with that: smaller areas, smaller footprints, double-storey homes to make sure everything can fit in.

“My prediction is that, in the next 12 months, Wattle Lane is going to become more valuable because you just can’t get [anything] like this anymore.”

Wattle Lane is slated for completion in early 2022.

Wattle Lane

Price by negotiation

Wattle Lane, Chifley ACT 2606

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View property

Price guide: $900,000-$1.3 million

Agent: HIVE Property, Matt Shipard 0408 218 179