A significant development is set to reshape the landscape just south of Canberra’s central business district, with the $500 million London Central project poised to commence following government approval. The ambitious office precinct, spearheaded by the Snow family-owned Capital Property Group, will rise on the site of former law court car parks at the intersection of London Circuit and Northbourne Avenue.
Known as London Central, the project marks a substantial investment in Canberra’s urban infrastructure. The site was acquired for $53 million in 2023 after previous plans to develop it into government offices were abandoned. The first stage of the development will feature a 12-storey office complex spanning three buildings, with future stages potentially including a hotel or community facilities. Ground-floor retail spaces will be part of the initial phase, which has already received development approval. Construction is slated to begin this month, with completion expected by 2028.
Economic Impact and Job Creation
Capital Property Group estimates that the construction phase will generate at least 1,500 jobs, with the completed precinct expected to accommodate around 4,000 workers. This development is part of a broader transformation around City Hill, serving as the southern gateway to Canberra’s central business district. The Snows, through their company, own four sites in the vicinity, actively shaping the city’s skyline.
Richard Snow and Stephen Byron of Capital Property Group recently launched the project, emphasizing 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. The firm is renowned for delivering significant projects such as Brindabella Business Park and Constitution Place.
Broader Urban Development
This project is part of a larger urban development strategy by Capital Property Group. Last year, the group announced plans for a mixed-use precinct next to the QT Hotel, intended to house approximately 1,000 residents. The site was acquired for $66 million through a public tender. Additionally, the company has initiated over $150 million worth of work on an office block at the corner of Vernon Circle and Constitution Avenue.
The announcement comes amid a period of personal and professional evolution for the Snow family. Richard Snow has expressed a commitment to expanding Snow Medical, particularly in brain research, which he describes as a “final frontier” of medical science. Despite these new ventures, the family has no plans to sell Canberra Airport, viewing it as a long-term asset.
Looking Ahead
The London Central project is set to be a cornerstone in Canberra’s urban development, promising to enhance the city’s business landscape and create thousands of jobs. As construction begins, the project will likely draw attention from both local and national stakeholders, eager to see how this ambitious venture unfolds.
Meanwhile, the broader implications of this development could signal a shift in Canberra’s economic and urban planning strategies, potentially setting a precedent for future projects in the region. As the city grows, the integration of commercial, residential, and community spaces will be crucial in maintaining a balanced urban environment.
Stay tuned for further updates as construction progresses and the vision for London Central comes to life, promising to redefine Canberra’s skyline and economic landscape.
