Throsby packaged lots back on the market after passing in at auction

A selection of packaged lots that passed in at auction in June are back on the market in Throsby.

The Land Development Agency took 28 packaged lots to auction last month and sold nine under the hammer. A further two sold immediately after auction.

The lots comprised a total of 96 single residential blocks, most of them measuring 250 square metres.

The auction day sales averaged $1142 per square metre, making it some of the most expensive residential land in the ACT.

Four additional packages have sold since auction day, however, there are still 13 available.

The packages will be sold for the auction reserve price, which ranges from $560,000 for two blocks up to $1.1 million for a parcel of four.

Colliers International agent Josh Reid said he has received a good level of inquiry.

As the settlement of these blocks is at least 12 months away, Mr Reid said most of the interest has come from builders who hope to secure a project further down the track.

He said over the counter sales are also more appealing to some buyers.

“Certainly there are people a little gun-shy when it comes to auctions,” Mr Reid said.

The packaged lots join more than 100 single residential blocks that are also available over the counter.

The single blocks range from 315 to 908 square metres and are priced from $340,000 to $630,000.

All blocks are priced to match the prices achieved at the first lot of Throsby auctions, which were held this year.

Bidding was fiercely competitive when 800 parties registered to bid for 106 single residential blocks in February.

Each block sold for an average of $108,000 over reserve for a combined total of $48 million.

The average price paid was $920 per square metre.

The first packaged lots were also sold in February netting almost $17 million.

Mr Reid said Throsby’s position close to Gungahlin Town Centre and arterial roads has made a sought-after destination for the high end of the market.

“It’s similar to Forde,” Mr Reid said.

“It will be one of Gungahlin’s premium estates.”

Professional couples and families with primary- and high school-aged children have been the key buyers.

So far, land for 430 dwellings has been released in Throsby, with the remainder slated to sell over the next 12 to 18 months.

Upon completion, Throsby will be home to about 1100 dwellings.