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280 Southern Cross Drive, Macgregor ACT 2615

By Negotiation

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$1.1M - $1.2M Medium Confidence Calculated based on our search observations.

House 4 Beds 1 Bath 3 Cars 1295 m² 138 m²

Listed: 19 hours ago

Overview

This property presents a compelling development opportunity in Macgregor, ideal for builders and developers eager to capitalize on a substantial 1,265 square meter land parcel that comes with DA-approved plans for three modern townhouses. This approvals-ready status is a significant advantage, by removing much of the uncertainty and time involved in securing development consent.

These proposed townhouses are thoughtfully designed to offer spacious two-storey layouts, ranging from approximately 170 to 197 square meters of internal living space exclusive of garages. Each dwelling includes double garages and private outdoor areas, contributing to comfort and lifestyle appeal for families, professionals, or downsizers seeking contemporary and convenient living options.

Currently, the property features a residential home with a tenant in situ, providing ongoing rental income while plans for redevelopment are considered. The sizeable block is situated in a well-established locale opposite the popular Kippax Shopping Centre, ensuring residents will have access to a variety of amenities within easy reach.

Such a development site is attractive to those looking to add ready-to-go projects to their pipeline, whether to quickly move from land ownership to sale of finished residences or to pursue a longer-term investment strategy with a unit-title layout planned.

DA-approved tri-occupancy plan reduces time to market
Generous land size supports spacious living and practical site use
Double garages and private outdoor spaces enhance lifestyle and appeal
Existing rental income offers interim cash flow during development planning
Proximity to Kippax Shopping Centre provides convenience for future occupants

Overall, this listing offers a strong foundation for a residential development project in a desirable ACT location with many built-in advantages that will appeal to experienced builders, developers, and investors.

Local Market Insights

In Macgregor, Quiet Listings observed 33 new houses entering the market over the last 30 days, up from 28 during the previous 30-day period, with an average advertised asking price of $870,045. The property type mix of listed properties is predominantly Houses at 80%, followed by townhouses (15%), and apartments (4%). The most active agency for houses in the Macgregor area is currently LJ Hooker, representing 33% of new listings, followed by Ray White with 30%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.