CIC Australia Limited (CNB) has signed an agreement with Mirvac Group (MGR), one of Australia’s leading land developers to develop the new Googong township on the ACT/ NSW border just 18 kilometres from Canberra’s CBD. The Googong township will be built on 780 hectares of land, have a life span of some 20 years and will create approximately 5,500 homes, parklands, community facilities and a town centre. The project has already received masterplan approval and development approval for the first stage of 337 lots. Marketing for the first stage release will commence in early 2012. Responsibility for the project will rest with a joint management committee, which will include senior representatives from both CIC Australia and Mirvac.
CIC Chief Executive Col Alexander says the arrangement is a 50/50 agreement between the two companies to create a whole new township that will set the benchmark for masterplanned community development in Australia. “Together, CIC and Mirvac’s expertise will provide the very best in urban design and amenity for Googong, built to the highest standards for quality, liveability and sustainability. We are very excited about this announcement, which means Googong is now ready to roll,” says Mr Alexander.