THE ACT government has sold land on the corner of Vernon Circle and Constitution Avenue, next to the Canberra Theatre Centre, for $17.75 million.

Terry Snow’s Capital Property Group, developers of the Constitution Place precinct, will build a $150 million, six-level commercial office building on the site.

Construction is set to commence in mid-2024, with completion scheduled for the second half of 2026.

The sale was completed through a competitive tender process with the ACT government via the City Renewal Authority. The land sale was managed by JLL ACT.