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Canberra’s Lawley house fetches $31.75m

By PropertyReview.com.au 11/07/2011 06:29:00

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LAWLEY House in Barton, Canberra has been sold for $31.75 million to a Canberra institution.

Colliers International director of investment services Jim Shonk said the property is a secure long-term cash flow asset and is an excellent site suitable for future residential development.

Lawley House is situated on 14,710 sqm of land on the corner of the prestigious Brisbane Avenue and Bowen Drive, adjacent to beautiful parkland facing Lake Burley Griffin, and offers views down the lake.

It is currently zoned for Educational and Residential Development and could accommodate up to five of six levels of residential under current zoning.

“By 2022, if the tenant vacates, the site will be one of the last major residential opportunities on the shores of Lake Burley Griffin,” Shonk concluded.

PropertyReview.com.au