Local developers are among those showing interest in the sale and have been floating prices of around $5 million for the combined sites on the corner of Rutledge and Crawford streets.

The main site is an amalgamation of 10-12 Rutledge Street and 257 Crawford Street, while the second smaller site is located at 6 Rutledge Street. The land currently houses a number of council office buildings.

Colliers International are leading the sale on behalf of Queanbeyan-Palerang Regional Council and are currently accepting expressions of interest.

Colliers International director of residential land Josh Reid said established developers from the Canberra region have shown strong interest in the sites.

"Obviously this scale lends itself to some of the larger groups, not just locally, but also some of the interstate groups as well," said Mr Reid.

"But so far, we've had really strong interest from mainly the local Canberra and Queanbeyan developers that have been around for quite some time.

"They know the area, they know what buyers are looking for, so that will give them plenty of confidence to look to buy it."

The sites are also located next to a $74 million civic and cultural precinct, which is currently under construction with an expected completion date of 2023.

MORE PROPERTY NEWS:

The precinct will include green spaces, a new library and multi-storey office buildings that will house majority of the local council workers.

Mr Reid said the strong council workforce will be a drawcard for developers considering the two sites.

"This is really the first opportunity as part of [the council's] CBD master plan for a developer to get a large-scale, mixed-use development site," he said.

Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: