Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Canberra Times
The Canberra Times
Lucinda Garbutt-Young

A $30 million fast food hub up for sale in Googong

Googong residents dreaming of a fast food hub on their doorstep will soon be in luck following the listing of a convenience centre for the area.

The ACT border site will include a McDonald's, KFC, 7-Eleven, an early learning centre and The Reject Shop.

There have already been several inquiries about the hub destined for Googong Central Town Centre after it hit the market on August 15, said head of NSW retail investment at Colliers, James Wilson.

"We have had good interest straight out of the gate, with a mixture of local, private investors from within the Canberra market and interstate as well," Mr Wilson said.

It is set to be a profitable site, as it will service an estimated 10,500 residents in a community that does not currently have fast food.

An artist impression of what the centre will look like. Picture supplied

"It is 8km to Queanbeyan and about four to Jerrabomberra," Mr Wilson said.

The centre is likely to sell for around $30 million.

"I think the type of buyers are likely to be a fairly sophisticated, high-network private investor," he said.

But boutique, private investors were also showing interest.

Mr Wilson said it was a unique proposition in the Canberra region, as retailers would be on net leases and responsible for their premises.

"Essentially, this would be largely set and forget [for the buyer]," Mr Wilson said.

A final store in the complex is yet to be leased out.

The site is being developed by the Stevens Group, a prominent property developer across NSW and the ACT.

The 1.2-hectare block was sold to the group last year with a price tag of $9 million.

The centre is set to open in 2025.

In addition to the 1.2-hectare retail development site, the Googong town centre is also expected to include two major supermarkets, a medical centre, a multi-purpose community centre and library once complete.

The precinct will cater to Googong's growing community, which will eventually be home to almost 20,000 residents.

In November 2022, the subdivision for three new Googong neighbourhoods was approved by the NSW government's Southern Regional Planning Panel.

Googong West, South and East will join the two existing neighbourhoods Googong North and Central, which already house some 6500 residents.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.