Canberra, 16 May 2013- Significant interest is expected in this month’s auction of 91-99 London Circuit - an iconic corner property in Canberra’s heritage-listed Sydney Building.
The Sydney and Melbourne Buildings were the first privately constructed properties in Canberra, occupying a prominent position in the heart of the CBD at the gateway to the city. The buildings provide typical Mediterranean style features including Roman patterns, round arch ways, arcaded walkways and formal corner entrances.
Each unit within the building is on a separate, single title with individual owners. CBRE has been appointed to auction the premises on the corner of the Sydney Building fronting the prominent intersection of Northbourne Avenue and London Circuit.
The ground floor has served as the home of Fletcher Jones for 50 years and more recently provided a base for the You Are Here Festival celebrating Canberra’s Centenary showcasing the best of the Capital’s diverse independent and experimental arts and culture.
The lease allows for a range of uses including shop, restaurant, bank, offices and consulting rooms.
CBRE Negotiator Patrick Sammon said the property’s historical significance, iconic features and prominent location, in arguably the most prime position in the CBD, had underpinned significant buyer enquiry from a range of purchaser types.
“The property offers wide street frontage, great signage opportunity and the potential for a quality tenant providing further exposure and rental upside for the new owner,” Mr Sammon said.
The property will be opened up to the public for an on-site auction at 11am on Tuesday, May 28.
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
