Three Braddon owners unite for rare inner-city development site sale

Three vendors have joined forces to bring a rare Braddon development site to market, combining adjoining blocks in one of Canberra’s most tightly held inner-city suburbs.

The site at 57, 59 and 61 Ijong Street comprises three side-by-side RZ3-zoned blocks with a combined land area of about 2363 square metres, just moments from Lonsdale Street and the Ipima Street light rail stop.

The sale is being relaunched following the decision by the owner of neighbouring 57 Ijong Street to join in, and is being marketed by Samuel Pearson of Hilton Advisory.

Pearson said the combined offering was expected to attract strong interest from developers seeking medium-density housing opportunities in Canberra’s Inner North, where developable land parcels of this scale are increasingly difficult to secure.

It is uncommon for multiple adjacent landowners in established suburbs to coordinate a sale, particularly across three adjoining RZ3-zoned blocks.

The relaunch also comes on the back of strong market evidence for townhouse development in the area. Nearby, Kasunic Group’s Ijong Street North project reportedly sold out within 12 weeks, highlighting continued buyer demand for well-located medium-density housing despite broader market challenges.

Pearson said the result was unheard of in the current market and highlighted the demand for townhouse development sites in the area.

“Braddon is a popular and convenient suburb with a village feel and its own distinct precinct within the inner north,” he said. “It offers easy access to amenities and Lonsdale Street, along with the light rail, and buyers continue to be drawn to that walkable, close-to-the-city lifestyle.”