ACT Gov $14 billion infrastructure spend good news for geocon investors
Investors in Geocon projects in Tuggeranong, Belconnen, Woden and the City will benefit from the ACT Government’s $14 billion Infrastructure Plan, released recently.
Centrepiece items of the plan include the new SPIRE Hospital in Woden, light rail to Woden, light rail between Belconnen and the Canberra Airport as well as the new Canberra Theatre.
A new stadium, built in one of three locations being the current Civic Pool site, at Bruce or EPIC, is a secondary consideration which won’t built in the next five years. The Chief Minister, Andrew Barr has indicated all social infrastructure, other than the new theatre, have become secondary considerations.
The announcement will be of significant interest to investors and live-in occupiers who have interests in a number of Geocon developments, including Wayfarer and Republic in Belconnen, Metropol in the City, and Midnight in Braddon, as well as Grand Central Towers in Woden and Tuggeranong’s Aspen Village and Southport. In total, this will impact about 7,000 ACT residents who have chosen to live in, or invest in, Geocon developments across Canberra.
People who have invested in Gungahlin developments Infinity and The Establishment will also benefit from better roads and infrastructure across the ACT.
The plan details how the City will grow to link people between education and health hubs one an extensive public transport network, supported by an easy to navigate and well-maintained road network.