Buyers are expected to flock the sale of mixed-use waterfront site at the Promenade located in the Kingston Foreshore development.

The 4,937 square meter land holding is zoned to allow for a mix of medium density residential, commercial, restaurant and retail development.CBRE's Nick McDonald Crowley and Mark Nicholls will steer the tender campaign on behalf of the ACT Government's Land Development Agency. Tenders close at 2pm on February 11, 2011.

"We expect the campaign to attract significant local and national developer interest, given the potential to undertake a landmark project that will transform the shoreline of Lake Burley Griffin," McDonald Crowley said. "The mixed-used zoning underpins the site's potential to become a premier waterside café, arts, commercial and residential destination. Owing to the site's proximity to inner south Canberra, the Parliamentary Triangle and Canberra City, and the ease of access to Canberra International Airport, the property is expected to provide one of the most prestigious and desirable residential and business addresses in the ACT."

Kingston Foreshore is a benchmark urban renewal project that over the past nine years has been transformed into a contemporary and premium quality medium density address with national UDIA award recognition.

It is located nearby Canberra's city center. The US$1 billion project includes a vibrant cultural precinct revolving the lauded Bus Depot Markets and the Canberra Glassworks, housed in the historic Powerhouse building.