Stretching 800 metres along the water's edge, guests at the bar will enjoy glasses of a special centenary bubbly, made as a collaboration by local winemakers.

As at any good wine bar, guests will also be able to sample locally produced tapas dishes made from seasonal ingredients.

Organisers have promised that the event, which will feature live performances on Lake Burley Griffin, will proceed with ''military precision''. It is sold out, and will feature three seatings from 4pm.

Premium ticket-holders will enjoy a front row seat for the finale fireworks.

The bubbly bar will open to those without tickets from 9.30pm until late.

Executive director of the Centenary of Canberra, Jeremy Lasek, said the event was the only part of today's celebrations which was not free to the public.

''The lucky people who got in quick and bought tickets won't be disappointed,'' he said.

''Traditionally, bubbles and celebrations like birthdays go hand-in-hand and with such a spectacular location right in the heart of the entertainment, this will be a fantastic way to celebrate Canberra.''

Mr Lasek said in 2008 the region's winemakers were commissioned to create centenary wines such as varieties of shiraz and riesling, but organisers decided bubbles would be essential.

''Everyone who has tasted it already say the centenary bubbles is just delicious,'' he said.

Boats on a circuit around the lake will feature percussion performers, jazz ensembles and a Latin group.

The Gourmet Food and Wine Marketplace will showcase local produce including cheese, wine, oils and vinegars, coffee, ice-cream and breads.

A selection of Canberra's boutique growers will be on hand to chat about their wares.