Buvette Masthead

A Powerhouse opportunity comes to Kingston

HerCanberra Team

Most Canberrans know the location of the bustling Kingston Foreshore and its myriad restaurants, bars and cafés.

Far fewer would be able to find Kingsborough on a map. Tucked into a green pocket of land neatly bordered by the Foreshore’s Norgrove Park to the West, Canberra Railway Station to the South and the meandering Jerrabomberra Creek to the North, the area is the next big thing for Canberra’s property industry.

As space along the Foreshore’s waterfront becomes scarcer and construction winds down, projects such as the Kingsborough development are focusing on fresh areas which are a short 5-minute walk away from Eastlake Parade. According to Independent Property Group’s Senior Sales Consultant Aaron Lewis, this was a natural progression in Kingston’s evolution into a sprawling waterside suburb.

“It will be its own hub of activity,” he says of Kingsborough, an exciting ‘village’ comprising of eight smaller developments, including the latest release: The Powerhouse Apartments. This precinct sits towards the north of the development, across from a lush green space that has been marked by the ACT Government to become a wetlands area that will also be home to a large urban park.

“The main features of the village, will be a range of shops and cafés, outdoor breakout spaces with ping pong tables, grass, trees and gym areas, along with the potential for a supermarket and chemist in the final stages of the development.”

With a demographic skewed towards young and established families and downsizers seeking space in a quiet section of one of Canberra’s most lively suburbs, there’s also talk of a community garden, rooftop terraces for some owners and a bike garage with a mini workshop. Those people on the look-out for the ‘new’ Kingston Foreshore or NewActon may have found it.

“It’s definitely a space weighted towards live-in owners,” says Aaron, who has bought within the precinct himself. And out of all eight of Kingsborough’s developments, Powerhouse has been earmarked to be the most ideal for first home buyers.

“Firstly, this Powerhouse release is entirely made up of one bedroom apartments,” explains Aaron. “They’re actually the only one bedroom apartments in the precinct and just 56 in total.”

If you think this sounds perfect but would love an extra room, that can also be arranged. Some apartments in Powerhouse are specially designed to accommodate a winter garden built around the balcony, sealing the area in double-glazed panels and creating an additional room for all seasons.

With prices starting from $284,000, they’re also some of the most affordable apartments in Canberra, emphasised by the fact that the average value along one side of Kingsborough is just shy of $1 million.

“Without a doubt, Powerhouse represents excellent value that hasn’t been seen before on the Kingston Foreshore. There’s also a benefit for first home buyers, who will receive government grants that include $0 stamp duty at this price point, plus a $7,000 boost to help with their purchase.”

Aaron notes that another aspect buyers love is the development’s low strata fees. This is due to the extensive amount of solar panelling going into Kingsborough—across almost every roof—and the buildings have been made of low maintenance materials where possible, all in an effort to reduce levies and take the strain off first home buyers and investors.

Powerhouse will also appeal to first or young home buyers who are unsure whether entering the property market will chain them to Canberra forever, as owners have the option to rent out their apartment through the normal means or even put it on Airbnb, with half the building being designated as investment-only.

“It’s actually linked to the lease within the precinct itself and rentals don’t require strata approval,” explains Aaron. “A lot of Canberrans are transient and the flexibility will open up opportunities to a whole lot of prospective buyers. The benefit for the investor-only apartments is the high yield a place like the Kingston Foreshore will gain for the price point of the apartments themselves.”

If you’d like more information on The Powerhouse Apartments or about Kingsborough itself, the display suite is open now on the corner of Dawes Street and The Causeway, Kingston or visit kingsborough.com.au.

This is a sponsored editorial. For more information on sponsored editorials, click here

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