A handful of local developers have snapped up three former public housing complexes across Canberra, which also represent some of the last of the territory’s asset recycling initiative blocks.
Griffith’s troubled Stuart Flats were split into four separate blocks for Wednesday’s auction at Manuka Oval, with Morris Property Group – fronted by director Barry Morris and a man unknown to agents, Tony Yeend – snapping up three of them.
The blocks, which are zoned for high-density residential but could also be used as boarding houses, community centres, health facilities or retirement villages among other things, would be used for residential purposes, Barry Morris said.
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Source: The Canberra Times