Businesses snap up commercial space at Midnight in Braddon

Geocon’s mega Midnight development on Northbourne Avenue has struck a winning note with 80 per cent of its residential apartments being quickly snapped up.

The nine-storey building will be built on the existing NRMA House site at 92 Northbourne Avenue, opposite the future Elouera Street tram stop.

Midnight will include a 162-apartment Abode Hotel, 237 residential apartments and 1300 square metres of commercial space.

Apartments will include a mix of one-bedroom, one-bedroom-plus-study, two-bedroom and three-bedroom units, with prices starting under $350,000.

Two-bedroom apartments are available in three sizes and three-bedroom penthouses range in size up to 208 square metres.

Geocon’s general manager of development, Peter Micalos, says demand for Midnight has been strong since day one, with buyers responding to its competitive pricing.

“Buyers love the inner-city location with Canberra’s best dining and nightlife on their doorstep,” Micalos says.

“And the proximity to the light rail is really exciting now people can see progress along Northbourne Avenue.”

Pedestrian connectivity between the tram stop and Mort Street in Braddon is an integral part of Midnight’s design, which also includes a public courtyard.

Every hotel unit will face that space while residential units will look onto Northbourne Avenue, Elouera Street and Mort Street.

Facilities including a pool, gymnasium, private cabanas and outdoor kitchen facilities will be available to both hotel customers and residents.

Micalos says commercial spaces in Midnight are also experiencing strong sales as investors and owner-operators recognise the advantages of its prime location.

“We’ve only been marketing the commercial units for a few weeks and investors have already snapped up a third of the 21 available units,” he says.

“The great thing about Midnight’s commercial space is that it’s flexible: we can combine units to create whatever area a business needs.

“That’s attracting interest from a variety of prospective buyers – from restaurant and cafe-owners to professional services looking to capitalise on the proximity of the hotel to the adjacent light rail stop,” Micalos says.

Commercial offerings could eventually include offices, eateries, childcare and healthcare.

The $194 million project will bring a further 200 public car spaces into the area, among three levels of basement car parking.

Geocon snapped up the Northbourne Avenue site last year for more than $25 million.

Construction work is expected to begin before spring and be completed by mid-2019.

Agents: Paul Corazza and Adrian Stroh, 1300 979 757, GEOCON and Independent Projects.

Who’s in the market: Flexible commercial space allows for offices, eateries, childcare and healthcare.