Today it has been confirmed that the West Block building in the Parliamentary Triangle will be sold for $6.25 million to a subsidiary of the Geocon Land Holding Group.
Geocon is an established local property developer in Canberra, with a sound track record of construction and management of hotels in the Canberra region.
Geocon plans to restore the heritage-protected façade and redevelop the interior to transform the West Block building into a boutique hotel.
“This is a great outcome for Canberra. Opportunities to revitalise the Parliamentary Triangle should be embraced.” Senator Seselja said.
“West block has been vacant for a number of years, so to have this refreshed and used for boutique accommodation while still maintaining its heritage facade is a fantastic outcome” Senator Seselja concluded.
The successful sale of the West Block building is part of the Government’s ongoing efforts to ensure the Commonwealth’s property portfolio is appropriate for expected future needs and maximises value for taxpayers.
The Government continues to progress sale processes for the Anzac Park East, Anzac Park West and East Block buildings.
Heritage values will be protected through covenants and provisions included in the Sales Contracts and Crown Leases.
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