Medium density living in high demand in Lawson

Demand for property in Lawson shows no signs of abating, with one developer increasing the number of units in its project to keep up with the strong level of interest.

POD Projects Group has lodged a development application with ACTPLA to increase its 65-unit development, Gateway, to a 75-dwelling complex, comprising 16 townhouses, 26 villas and 33 apartments.

The developers, along with Core Building Group, purchased the site for $5.07 million at an auction in 2014.

Situated on the south-west corner of the suburb, the $14 million development will occupy one of Lawson’s most prominent positions adjacent to Baldwin and Ginninderra drives.

The 9229-square metre site is bound by Nevertire Street to the east and south and Wanderlight Avenue to the west.

Due to its visibility from arterial roads, the Environment and Planning Directorate has asked that the block be used to create a strong identity for the corner position and act as a marker for the suburb.

POD Projects Group’s managing director Paul O’Donnell said Guida Moseley Brown Architects have used a variety of angles, height and materials, combined with landscaped gardens, to ensure an attractive gateway into the suburb.

Mr O’Donnell said the townhouses and villas hit the market in March and almost half of the dwellings have already sold.

The apartment component of the development, which will be listed for sale within the next couple of months, has been expanded by 10 units.

“Gateway will feature the largest floor plans in Lawson and each has two living areas, two bathrooms and two garages with internal access,” Mr O’Donnell said.

“We’ve listed to market feedback and we’ve adjusted the design accordingly.

“Construction commenced a month ago, we were confident with the product we’ve created and initial feedback, so we went into construction immediately.”

The second stage of land release won’t begin under the next financial year, however three single residential blocks previously released to the market will go under the hammer this month.

The first stage of land release in Lawson included 19 multi-unit blocks and 184 single residential blocks. They sold for a total of $161.53 million.

About half of this sales figure represents multi-unit sites and the other half single residential blocks.

The average price for the single residential blocks was $439,000 – about $103,000 above reserve for each parcel of land.

Stage two will comprise about 1000 dwellings in multi-unit developments and extend to the Lake Ginninderra foreshore.

Upon completion, the inner Belconnen suburb will be home to about 2000 dwellings with 199 of these being single residential blocks.