A new office in Brindabella Park and the development of a prime city car park are among the significant office projects set to shape Canberra's skyline in the coming years.
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Following a slowdown in office completions, a steady pipeline of development is ahead, as detailed in a report by commercial property firm Knight Frank.
Canberra experienced a "decade high" of office development activity in 2022, the report stated, which included more than 113,000 square metres of office space added to the market.
There had been just a handful of office completions this year, the most recent being a new space for the National Disability Insurance Agency at 90 Denison Street, Deakin, the report stated.
Known as Deakin One, the office building was designed by Turco and Associates and includes 8000 square metres of office space over three levels. It is understood the office fit-out is currently under way.
Meanwhile two office buildings are nearing completion in Symonston. Evri Group's Eastedge 2 is expected to be completed in October and will add 6000 square metres of office space to the business precinct.
Also due to be delivered by the end of the year is 1 Taubman Street, Symonston, a three-storey, fully electric office building developed by Nikias Diamond.
In Civic, Morris Property Group's One City Hill office project is taking shape on Vernon Circuit.
The seven-storey, all-electric building next to the law courts will include 34,000 square metres of office space. The developer is aiming for 5.5 stars under the National Australian Built Environment Rating System.
Construction is on track for completion by the end of 2023 and tenants have not yet been secured for the building.
Strong demand for Canberra office space
Canberra was one of only two capital cities to record a decline in office vacancy in the first half of 2023, the Property Council of Australia's mid-year Office Market Report found.
The vacancy rate, calculated on whether a lease is in place, was 8.2 per cent for the six months to July, down from 8.9 per cent in January.
Property Council chief executive Mike Zorbas said the results showed premium office space was in high demand, "reinforcing businesses' desire to provide attractive and enjoyable workplaces for their people".
Steady pipeline of new offices
One of the largest office builds under way is the newest addition to Brindabella Business Park, 9 Molonglo Drive.
Capital Airport Group is behind the project, which will target a NABERS energy rating above five stars.
Canberra Airport head of property Richard Snow said the development would also have a 99-kilowatt solar system on the roof and full-height glazing to maximise natural light.
"The building will be a new generation 20,000-square-metre, A-grade office building that will have no gas plant allowing for it to be 100 per cent carbon neutral in operation," he said.
Mr Snow said no tenant had been committed to the building yet, but there was "strong interest from private and public sector tenants".
The office building is expected to be completed in mid-2025.
Also set to be developed in the coming years is section 96 in Civic, a surface car park adjacent to the Canberra Centre.
Canberra Centre owner Queensland Investment Corporation is also the owner of section 96 on Cooyong Street.
The most recent plans for the site included offices, shops, a hotel and serviced apartments.
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A spokesperson for QIC said the group was "committed to the development planned for the section 96 lot" but could not confirm an estimated completion date.
The report also mentioned the London Quarter project at block 40, section 100 in Civic, which was due to house three Commonwealth tenants from 2026.
The completion date is now uncertain after The Canberra Times revealed in August the project had been scrapped.
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