Belconnen Markets to reopen by Christmas after Construction Control steps in to replace PBS Building

One market trader, who has remained open during construction, welcomed the news after what had been "a very long process" to launch the European-inspired market hall.

Work at the markets momentarily halted in March when the contracted building company, PBS Building, entered voluntary administration.

Owner and developer of the market Elanor Investors Group swiftly engaged local building company Construction Control to complete the project.

Construction resumed days later and now the new Capital Food Market is gearing up to open before Christmas.

Elanor Investors Group co-head of real estate Michael Baliva said it had been exciting to watch the new markets come to life.

"The community will be reacquainted with our loyal traders in their new stores and introduced to a range of new fresh food providores and casual dining operators in time for the Christmas holiday season," he said.

The market hall - which takes inspiration from the famous food markets of Europe - is expected to include about 40 retailers and dining options, an outdoor garden and a 200-car basement parking area.

Construction Control managing director Pete Payten said work on the markets "didn't really miss a beat" after the group took over from PBS Building.

"We were very fortunate to be able to reengage all the major subcontractors and suppliers on the project," he said.

Construction Control also employed some of the key project team who were previously working for PBS Building.

"They have been a fantastic fit into our team," Mr Payten said.

Market Meats is one of about six businesses which have traded throughout the works in an adjacent temporary shed.

Market Meats owner Bede Wright is gearing up for the move and said his new store will have a completely different look.

"It will be completely unrecognisable in terms of layout and decor," he said.

"We're really leaning into the old-fashioned, British style of butchery."

Customers can expect the butcher to continue selling traditional cuts, aged beef and handmade small goods and sausages, Mr Wright said.

"A bit more hands-on than a lot of stuff you see in the supermarkets," he said.

After a "very long process" to plan and build the markets, Mr Wright said he was excited for it to be completed.

"It's nice looking out there and seeing glazing going up one day and some cladding the next, watching the brickwork come out of the ground," he said.

The businesses will continue operating out of the temporary location Wednesday through to Sunday until the new market opens.

In March, business owners told The Canberra Times of their relief a new builder had been secured to replace PBS Building, as the markets had already faced years of delays.

Elanor Investors Group purchased the Belconnen Markets site and surrounding land in 2018 for $43.75 million.

When the group submitted plans in early 2019, they had anticipated the new market hall would open in 2020.

Then in early 2020, just before the onset of COVID-19 in Australia, Mr Baliva said the group expected construction of the markets to be completed in late 2021.

The Belconnen Markets redevelopment was one of 82 projects in three different states and territories impacted by the collapse of PBS Building in March.

Administrators for the PBS Building companies, which together owe an estimated $63 million to creditors, have until July 7 to hold the second creditors' meeting, when the future of the companies will be determined.

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