A major office precinct, known as London Central, is set to begin construction just south of Canberra’s central business district, following recent government approval. The development, spearheaded by the Snow family-owned Capital Property Group, promises to reshape the city’s skyline with a $500 million investment. Situated on the site of former law court car parks at the corner of London Circuit and Northbourne Avenue, this ambitious project aims to redefine the area.
The development, which was acquired for $53 million in 2023 after previous plans by another company fell through, will feature a 12-storey office complex spread over three buildings in its first stage. This phase will also include ground-floor retail spaces, while future stages may introduce a hotel or other community facilities. Construction is set to commence this month, with completion expected by 2028.
Economic Impact and Job Creation
Capital Property Group estimates that the project will generate at least 1,500 jobs during the construction phase, with approximately 4,000 people anticipated to work in the precinct once it is fully operational. Richard Snow, alongside Stephen Byron, launched the project, highlighting its potential to invigorate the local economy.
Construction Control, a company with offices in Braddon, Sydney, and Brisbane, has been appointed as the head contractor. Known for delivering significant projects such as Brindabella Business Park and Constitution Place, the firm brings a wealth of experience to the venture.
Shaping Canberra’s Future
The London Central project is part of a broader transformation around City Hill, marking the southern gateway to Canberra’s central business district. The Snows, through Capital Property Group, own four sites near the hill, actively shaping the city’s future landscape. Last year, the group announced a mixed-use precinct next to QT Hotel, intended to house about 1,000 residents. This site was acquired for $66 million through a public tender process.
Additionally, the group has embarked on over $150 million worth of work on an office block at the corner of Vernon Circle and Constitution Avenue. These developments underscore the Snows’ commitment to urban renewal and economic growth in Canberra.
Philanthropy and Long-Term Vision
Amidst these developments, the Snow family is also focusing on philanthropy. Richard Snow stated,
“Dad expressed his wishes that we massively ramp up our philanthropic giving, and I’m dedicating my time to growing Snow Medical, particularly in relation to the brain, which is considered one of the final frontiers of medical research.”
The family has no plans to sell Canberra Airport in the medium to long term, viewing it as a valuable long-term asset. A spokesperson confirmed,
“Canberra Airport is an asset that the family wants to keep for the long term.”
Looking Ahead
The London Central project represents a significant investment in Canberra’s future, promising to enhance the city’s infrastructure and economic prospects. As construction begins, the local community and stakeholders will be watching closely to see how this development unfolds and impacts the region.
With a clear vision for both business growth and philanthropic endeavors, the Snow family continues to play a pivotal role in shaping Canberra’s landscape and future.
