The $300 million Constitution Place development has reached a major milestone, after construction topped out at the site
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Following completion of the final floor of the 12-storey complex, it's expected work on the development will be completed by November.
Retail stores are estimated to be opened at the London Circuit site either in February or March in 2021.
Developer Capital Property Group's head of property Richard Snow said construction would shift to the facade of the buildings and fitting out.
"Work has been going for four years now, and now that the structure phase has been complete, the balance of the project will run quickly from here," Mr Snow said.
"It's going to be exciting for that part of Civic."
The development will feature two buildings: a five-storey building, which will be leased to the ACT government, along with a 12-storey building that will feature commercial tenants, retail space and a 130-room Adina Apartment Hotel Grand.
The smaller building was topped out six weeks ago while the taller one reached the same milestone in recent days.
Mr Snow said the effects of coronavirus on the retail sector has led to one retailer that was earmarked for the site, a bubble tea operator, backing out.
A further two retailers, which were set to sign deals to set up shop have pushed back signing on.
"We had a few deals that were almost done before COVID-19, which [the retailers] weren't comfortable with pushing ahead with until there was more certainty," Mr Snow said.
"There has been some adjusting for the timing for the fit-outs. Some were looking to finish by Christmas for the fit-out, but some are more likely to open February or March."
KPMG is set to be the lead tenant of the 12-storey complex when it is opened.
Other tenants include a gym and childcare centre along with restaurant Meat & Wine Co.
Mr Snow said coronavirus had an impact on the construction process with many workers coming from interstate where border control measures were in effect with extra health measures in place.
The head of property said the development was only expected to be a month behind its original schedule.
It comes after the project was delayed last year following an external review of the project.
The review resulted in changes being made to the design of the development.
Work was stalled for several weeks while the review was under way.
"[Completion] is basically a month's difference from where we were, which after a four-year construction is a pretty good place to be, given the issues with bushfires and smoke and coronavirus," Mr Snow said.
"The development will enliven that part of the city and will have food and shops next to the theatre and will be a nice addition to the city."
Andrew Brown
I've been part of the Canberra Times since 2016, after reporting at local papers in Sydney's north-west. Since starting at the paper I've had stints on the Sunday Times, on the early morning breaking news round, and now as a general reporter, covering the ins and outs of anything and everything happening in Canberra, with a focus on health.
I've been part of the Canberra Times since 2016, after reporting at local papers in Sydney's north-west. Since starting at the paper I've had stints on the Sunday Times, on the early morning breaking news round, and now as a general reporter, covering the ins and outs of anything and everything happening in Canberra, with a focus on health.
