A new land release by the ACT Government’s City Renewal Authority will position hundreds of workers and visitors in the world-class cultural district planned for the City Centre.
The 2743sqm block of vacant land – situated next to the ACT Legislative Assembly and Canberra Theatre Centre – will be home to a high-quality development potentially featuring office, hotel, and retail space.
City Renewal Authority CEO Malcolm Snow said the future development will contribute to the City Centre’s ongoing revitalization.
“This land release will contribute to the Canberra Civic and Culture District, which will be transformed into a premier performing arts destination in the coming years,” Mr. Snow said.
“It will locate more employment in the heart of the District and have important flow-on benefits for local business, as well as locals, workers, and visitors in our City Centre.
“The future development will also take advantage of current ACT Government key infrastructure projects including the extension of light rail, the planned 2000-seat Canberra Theatre Centre, the Garema Place upgrade and the new Acton Waterfront neighbourhood.”
The sale of this land is being managed by JLL, with agent Tim Mutton highlighting the opportunity it provides to developers.
“We are thrilled to bring to market this prime land in one of Australia’s most stable economies,” Mr. Mutton said.
“From its national institutions and diverse economy to government offices and world-class universities, Canberra is a thriving city attracting strong investment from national and international developers. This is a chance to become part of its exciting future.”
Section 19 Block 40 City is located on the corner of Vernon Circle and Constitution Avenue next to Constitution Place. Interested purchasers are invited to submit expressions of interest until 4pm on 24 August 2023.
The City Renewal Authority is also selling the prominent block of land opposite the QT Canberra hotel for office, hotel, retail, and residential accommodation.
Mr Snow said the latest land releases represent city-shaping opportunities given the national significance of the location.
“These land releases will attract high-quality, sustainable developments in the City Centre that directly support Canberra’s growing population and its position as the city’s premier centre,” Mr. Snow said.
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