LOCAL developer Demac Property Pty Limited has paid $4.55 million at auction for a large development site at Woden Town Centre.
The 8,258sqm site, on Melrose Drive, went under the hammer this morning.
Demac is owned privately and will be required to build car parking for a minimum of 850 cars on the site.
In addition to the car park, the developer will have options to build residential and commercial space, including up to 120 residential units, a club, entertainment or a drinking establishment.
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