Canberra's newest suburb Denman takes shape

The new suburb of Denman is about to emerge in the paddocks of Canberra’s west, with its first home blocks up for sale next month.

About 2000 dwellings are earmarked for development in the Molonglo Valley’s third suburb, with the region expected to accommodate at least 55,000 new residents within 30 years.

The owners of Canberra Airport, Capital Property Group, have invested $241.3 million in the Denman project, with the first residents expected to be in their homes by Christmas next year.

Land sales will begin on October 17 when 40 blocks of various sizes go under the hammer. Land parcels are expected to sell from about $450,000 to $550,000.

Capital Property Group project director Nick McDonald-Crowley said Denman residents will live in a master-planned community close to the city with its own schools, local centre, retail facilities and parkland.

“What sets Denman apart for buyers is its elevation, proximity to the city, northerly aspect overing look Molonglo Valley and dramatic views back to Canberra,” Mr McDonald-Crowley said.

“The suburb will attract commercial investment, create jobs and provide amenities for residents, workers and visitors in a rapidly growing region.”

He said recent land sales in nearby suburbs would provide a price guide for buyers.

“By way of price indication, prospective buyers might look to recent sales in the nearby Molonglo Valley suburbs of Wright and Coombs,” Mr McDonald-Crowley said.

The civil works for the first stage of Denman are well underway and are due for completion in April next year with 400 detached housing sites.

About 20 per cent of the dwellings will be earmarked for affordable housing and there will also be 72 public housing dwellings.

The auction will be at the National Convention Centre at 10am on Saturday October 17.

Colliers International will manage the land sales.