Woden site expands town centre presence
24 August 2017
Geocon is expanding its focus on Canberra’s main town centres with the acquisition of a new development site in Woden.
Following the recent acquisition of the City 7 site in Reid and the announcement of an expansion strategy into regional NSW for GEOCON’s Abode Hotels brand, Canberra’s largest integrated property developer has agreed to purchase the site bounded by Launceston Street, Melrose Drive and Furzer Street, which is currently occupied by the Woden Tradies Club, Quality Hotel and adjacent car park.
“Geocon has built in town centres such as Gungahlin, Tuggeranong and Belconnen but our only presence in Woden is our Abode Hotel in Bowes Street, where we did an award-winning, sustainable, adaptive re-use, turning the old Juliana House – a 1970s public service office building – into Australia’s first green-star rated hotel,” Managing Director Nick Georgalis said.
“The one-hectare Furzer/Launceston Street site presents another excellent opportunity for a GEOCON trademark precinct-style development, and with last year’s announcement that the next phase of the light rail will extend south from the city to Woden, this town centre has great appeal for us.”
Mr Georgalis said Geocon intended to continue to trade the hotel while planning designs for the mixed-use, high-rise precinct were under way.
“We are excited about what Geocon can bring to the Woden precinct,” Mr Georgalis added.
“While the sale will be finalised next year, a new project in this location aligns with our commitment to meet the increasing demand for quality apartments in Canberra.”
Geocon has 1500 apartments under development across Canberra this year, with another 3000 in the pipeline, all in the major town centres or on the light rail route. Its Abode Group is the ACT’s largest hotel brand with 400 hotel rooms under management, another 600 in the pipeline, and expansion plans across regional NSW.
For more information: geocon.com.au
Media inquiries: Jane Seaborn 0414 829 282