The owners of Westfield Woden have revealed plans for a 16-storey building that would replace Bonner House East.
Scentre Group has taken a proposal for a retail and office building to a pre-development application community consultation.
According to the proposal, prepared by Canberra Town Planning, the project would involve demolishing and replacing the "current dilapidated structure".
Bonner House is currently vacant. Scentre said it had tried to re-adapt the building but had failed.
"Bonner House East has long been part of Scentre Group's portfolio in the town centre," the consultation website said.
"It is at the end of its useful life and various schemes to refurbish, re-use, adapt or otherwise make it work have been tested."
Scentre says the new building would have retail on the ground level and office spaces in the upper levels.
"The new building will consist of simple, high-quality design that utilises innovative details to elevate its form and accessibility," the consultation website said.
"It will be a new commercial development that contributes to the revitalisation of the Woden town centre."
It would be another expansion for Westfield Woden in a matter of years. Last year it opened the Bradley Street Dining precinct.
The proposal is the latest in a string of planned developments in the Woden Town Centre that have gone to community consultation in recent months.
Zapari took plans to consultation for two residential buildings of 14 storeys and 16 storeys last month and Doma proposed 480 apartments on a former car park site on Melrose Drive.
Amalgamated Property Group also has a consultation for another stage of its Oaks residential development.
As well, the ACT government announced in August it would build a new $300 million CIT campus in the town centre.