5 Keltie Street

Phillip ACT 2606

Burgess Rawson Canberra is proud to exclusively present this exceptional DA Approved Town Centre renewal opportunity. Available for immediate sale is Lovett Tower which is Canberra's tallest commercial building at 24 storeys and has ability under the Woden Town Centre Plan to increase up to 28 storeys STCA. Lovett Tower has been DA approved and re-imagined as a true Commercial Build-To-Rent development, classified as commercial accommodation and the DA allows for Build-To-Rent accommodation up to 299 apartments.

The Lovett Tower renewal allows significant savings over a complete knock down rebuild, circa $20million. The time to complete the project is also significantly reduced by approximately 12 months and with DA Approval already in place this would give a further 12 month saving to your project over a normal greenfield site. A DA has been approved with indicative floorplans, underlying construction costs as well as an analysis of profitability. The current costings and attached plans that are detailed in the IM yield 262 Built-To-Rent apartments. Alternatively if a purchaser considers they can achieve greater upswing from an improved internal configuration they can completely amend from Level 6 upwards. Other potential options include raising the height of the building by 4 stories, increasing unit numbers to 299 apartments or adopting a hybrid mix of serviced apartments, hotel accommodation and build-to-rent.

This project provides a substantial sustainability measures via adaptive reuse with retention of the embodied energy and carbon in the existing concrete structure, solar panels, 100% gas free utilities, charging points for electric vehicles, natural ventilation for above ground carparks and recycling and composting facilities.