New precinct set to transform Canberra's city centre
A significant new 65,000 square metre commercial precinct was unveiled today for one of the most prominent sites in Canberra on the corner of London Circuit and Northbourne Avenue, Canberra City.
Capital Property Group, the developers of Canberra’s award-winning Constitution Place and Canberra Airport, have unveiled the design for the project and signalled their intention to start construction by the end of the year. The project will be one of the largest private sector investments in Canberra, creating over 1,500 jobs during the construction duration and housing approximately 4,000 people once complete.
While the provision of new state of the art and environmental leading office accommodation for the Commonwealth Government will be a key focus for the development, the versatility of the scheme will allow for the possibility of an 4.5-5-star upper scale hotel as well as residential suites all underpinned by highly activated ground floor retail.
Richard Snow, Group Head of Property, Capital Property Group said,
“The project represents more than just physical construction; it is a strategic investment in the growth and vitality of Canberra’s CBD against a challenging investment environment”.
Construction is scheduled to begin by November 2024 with an estimated completion in 2027.
View media release here.