A transformative $500 million office precinct, known as London Central, is set to begin construction just south of Canberra’s central business district. This development follows the recent approval from the government, marking a significant milestone for the city’s urban landscape.
The project is spearheaded by the Snow family-owned Capital Property Group and will be located on the site of former law court car parks at the intersection of London Circuit and Northbourne Avenue. The development is expected to generate substantial employment opportunities, with an estimated 1,500 jobs during construction and around 4,000 people working in the precinct upon completion.
Project Details and Timeline
London Central will feature a 12-storey office complex spread over three buildings in its first stage, which also includes ground-floor retail spaces. The next phase of the project may introduce a hotel or additional community facilities. Development approval for the initial stage has been secured, with construction slated to begin this month and completion anticipated by 2028.
The site was acquired for $53 million in 2023 after a previous development plan for government offices fell through. The project is part of a broader vision to enhance the area around City Hill, acting as a southern gateway to Canberra’s central business district.
Strategic Vision and Economic Impact
Richard Snow and Stephen Byron of Capital Property Group officially launched the London Central project, underscoring its potential to reshape Canberra’s skyline. The Snow family, through their company, owns four sites near City Hill, strategically positioning themselves to influence the city’s development.
Construction Control, a firm with offices in Braddon, Sydney, and Brisbane, has been appointed as the head contractor. The company has a proven track record, having previously delivered significant projects like Brindabella Business Park and Constitution Place.
“The family has no intention of selling Canberra Airport in the medium to long term – even a minority share. Canberra Airport is an asset that the family wants to keep for the long term,” a spokesperson for the Snow family stated.
Philanthropy and Future Developments
Beyond their commercial endeavors, the Snow family is also focusing on philanthropic efforts. Richard Snow emphasized a commitment to increasing their charitable contributions, particularly through Snow Medical, which is dedicated to advancing medical research in areas such as neuroscience.
Meanwhile, Capital Property Group continues to expand its portfolio. Last year, the company announced a mixed-use precinct next to QT Hotel, intended to house approximately 1,000 residents. This site was acquired for $66 million through a public tender process. Additionally, the group has initiated over $150 million in development on an office block at the corner of Vernon Circle and Constitution Avenue.
Looking Ahead
The London Central project represents a significant investment in Canberra’s future, promising to enhance the city’s infrastructure and economic vitality. As construction begins, the development is poised to become a landmark in the region, attracting businesses and fostering community growth.
As the project progresses, stakeholders and residents alike will be keenly observing its impact on the local economy and urban environment. With its strategic location and ambitious scope, London Central is set to redefine the contours of Canberra’s cityscape.
