ACT property company CIC Australia and its joint venture partner Larrakia Development Corporation have been selected by Charles Darwin University for the proposed urban subdivision on a portion of its Palmerston campus.
CIC and LDC’s successful bid resulted from a nationwide call for expressions of interest in partnering with the university for the development of the project.
The terms of the joint venture agreement between the parties will be finalised over the coming weeks.
The proposed urban development involves 55ha of the Palmerston campus, which comprises 127ha. The site is approximately 20 minutes south from the Darwin CBD and will create at least 500 blocks of land during the project lifespan.
Australian Property Journal
