A new multi-billion dollar town planned 20 minutes from Canberra’s town centre will inject the region with jobs and housing activity, claim leading development companies.
The south-eastern New South Wales township of Googong, set to commence building this year, will bring 5,550 new homes and over 2,370 jobs, according to partnership CIC Australia and Mirvac who planned and are developing the community.
The town will house 16,000 people, with steady stages of development occurring over the next 20 to 25 years, beginning with residents moving into the area in 2013.
Predictions from the companies expect the region to generate $185 million for the retail sector yearly, with cafes and shops planned for the region in 39,000sqm of net lettable retail area, and $283 million being spent on amenity including infrastructure.
Queanbeyan City Council recently approved CIC Australia’s upgrades to roads, and implementation of high quality recreational, sporting, community and service infrastructure, which will also provide services for nearby areas.
CIC project director Mark Atwill said that this would bring hundreds of millions of dollars worth of high quality facilities to the area, benefitting the wider community as well as Googong.
“Of course, this investment will benefit the whole region, not just Googong,” said Mr Atwill.
“The Voluntary Planning Agreement is an important part of the vision for Googong, and paves the way for the first stage of development to be approved, with the initial land release currently scheduled for early 2012.”
Sales for the 350sqm to 1050sqm blocks will commence on 13 February 2012 at the Vision Seminar.
Your enquiry has been sent to a local Aussie Mortgage Broker.
We will be in contact with you shortly.
- Give expert mortgage advice to help you find great investment loan deals
- Help you maximise return by lowering financing costs
- Save you time and effort by helping with the paperwork