Barry Morris buys Canberra office block
Jonathan ChancellorDecember 7, 2020
The most recent Canberra office sale has been the purchase of the commercial tower at 20 Allara Street in the CBD.
It was bought for about $20 million by the Morris Property Group, a residential apartment developer owned by Barry Morris of Queensland.
Cityscope suggests this foreshadows a residential conversion for the site, a trend already strong in the eastern states, "but yet to have a big impact in Canberra."
The property currently comprises an 11-storey office building in Allara Street and a 3-storey office and retail section along City Walk on a site area of over 3,000 sqm.
The property last traded at $23.25 million in 2003.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.