The home of Australia's international agricultural research has attracted interest from Canberra and interstate purchasers as the deadline for expressions of interest looms.
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After a year that saw the ACT's most expensive government-leased property go for more than $200 million to an overseas buyer, the two-storey office in Bruce was set to return something closer to the $7 million mark, its selling agent said.
The Australian Centre for International Agricultural Research, a statutory authority, has occupied the nearly 5600 square metre corner block since the offices opened in 1996.
A company trust out of Tasmania has owned the land since it was bought from developer Lend Lease in 1995. The property was later transferred at a price of $3.3 million between company trusts in December 2004.
Colliers International ACT investment services executive Matthew Winter said the property had been spruiked on the company's roadshow to groups in Singapore, Hong Kong and China, but had not appealed to international investors as yet.
"It has been viewed more (by) people from Sydney and Melbourne," he said.
"The market feedback has been in the order of $6.5-$7 million, and that's where we expect the bids to be."
Recently refurbished, the office building has a gross floor area of about 1500 square metres, with spaces for 65 cars outside.
The centre operates as part of the Australian Aid Program and funds projects that help develop sustainable agricultural production in countries from Africa to Asia and the Pacific.
Located on the same street as the newly built Australian Institute of Health and Welfare offices, the property is across the road from the University of Canberra and Radford College.
Mr Winter said expressions of interest closed at 4pm on May 13, with bids generally received within a day of the deadline.
Blocks with federal government tenants returned strong prices last year, with South Korean property investors FG Asset Management agreeing in December to pay $225 million for a 26,000 square metre property in Tuggeranong built for the Department of Human Services.
The Bruce property backs onto an apartment complex and is within a mixed use zone, with advertisements noting purchasers could consider residential development in the future with relevant approvals.
