Capital Property Group Unveils Ambitious $650m CBD Precinct for Canberra

Capital Property Group, the developer behind several of Canberra’s most high-profile redevelopments, has expanded its presence in the city’s core with the $66 million purchase of a prominent site to the south-west of City Hill.

The acquisition, secured through a public tender process by the ACT Government, positions the developer—best known as the property arm of Capital Airport Group—at the centre of a transformative vision for the CBD.

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It follows the company’s $53 million purchase last year of an adjacent site bordering Northbourne Avenue and London Circuit.

Capital Property Group is now planning a six-building mixed-use precinct, with designs by architecture studio Bates Smart. Four of the buildings will be residential, with 502 apartments proposed, 76 of which will be designated as affordable housing. Also included in the plans are an A-grade office tower with ground-floor retail and hospitality spaces, a city park, and a “striking” hybrid timber hotel.

A development application is yet to be lodged, but subject to approvals, construction could begin as early as 2026. The build would be delivered in stages between 2028 and 2034.

Currently, the site is being used to support the raising of London Circuit—a major city-shaping project aimed at reconnecting Canberra’s centre to Lake Burley Griffin. That initiative includes reconfigured roads, bike lanes and pedestrian paths in preparation for the future extension of the light rail to Woden.

The ACT Government said the proposed $650-million precinct would be an “innovative, eco-conscious and inclusive mixed-use development.” The draft design will be submitted to the National Capital Authority for works approval and will undergo public consultation.

The latest announcement cements Capital Property Group’s role in reshaping central Canberra, with the developer playing a key role in both private and public urban renewal efforts across the capital.

Images via The Urban Developer

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