Canberra House at 40 Marcus Clark Street is more than just an office tower. Photo: Colliers.
A 12-level office tower and destination dining precinct in a part of the Canberra CBD undergoing urban renewal has hit the market, with expectations of bringing more than $50 million.
Morris Property Group has listed Canberra House, a 10,620 sqm commercial asset at 40 Marcus Clark Street, with Colliers’ agents Matthew Winter and Paul Powderly managing the campaign.
The property comprises an 8319 sqm office tower and 2301 sqm of retail at No Name Lane, a fully occupied food and beverage precinct that has become an established destination within the Canberra CBD.
Colliers says the timing is right for a sale, with the commercial investment market gaining momentum and transaction volumes increasing year-on-year after a hiatus in formal campaigns for institutional-grade assets during 2024 and 2025.
The property sits on a 7424 sqm CZ1-zoned landholding, offering longer-term potential for redevelopment or alternative uses.
Its position within the City West precinct, adjacent to the Australian National University and close to government and business hubs with access to the CBD’s new light rail line, is particularly advantageous.
The owner has poured more than $3.2 million into the property, which now has a 4.5-Star NABERS Energy rating and 104 on-site car spaces.
Canberra House is an enticing proposition, generating passing income of $4.065 million with an average lease time of 4.02 years by income and 70 per cent overall occupancy, providing scope for further leasing and income growth.
Its diverse office tenant mix includes BAL Lawyers, UniSuper, Judo Bank, TSA Riley and Peet Limited.
No Name Lane is a destination dining precinct in a growing area, adding value to the property.
Morris Property Group’s James Morris said Canberra House had evolved into much more than an office building.
“The creation of No Name Lane has established a genuine destination for food and hospitality while the investment we have made in the building has significantly improved the experience for tenants and visitors,” he said.
“We are extremely proud of the refurbishment works, the quality of the tenant covenant and the way No Name Lane has developed into an established Canberra retail destination. Its 100 per cent occupancy is a strong reflection of the appeal that has been created within the precinct.”
Colliers head of Office Capital Markets & Investment Services ACT Matthew Winter said Canberra House brought together a number of characteristics that were increasingly difficult to find in a single CBD investment.
These included diversified office and retail income, an established food and beverage precinct and a substantial underlying landholding.
“The 70 per cent occupancy provides a clear pathway for a new owner to build on the existing income base while No Name Lane is already an established retail destination rather than a concept that still needs to be proven,” he said.
“Combined with the asset’s City West location and proximity to ANU and the government precinct, there is a strong foundation for the next phase of the property.”
Colliers ACT national director Paul Powderly said Canberra was undergoing significant urban renewal and infrastructure investment, supporting the CBD’s position as a nationally significant commercial destination for occupiers, investors and residents.
“Canberra is seeing a return of quality investment opportunities after a period in which relatively few institutional-grade assets came to market. Transaction volumes have been building year-on-year and we expect 2026 to exceed the approximately $320 million recorded in 2025,” he said.
“This is being supported by significant urban renewal and infrastructure investment across the city while Canberra continues to record Australia’s lowest office incentive levels.
“That combination is reinforcing the CBD’s appeal to both occupiers and investors and creating a more positive environment for commercial property owners.”
Canberra House is being offered for sale via International Expressions of Interest, closing at 3 pm on 22 October.
