This article is from the Australian Property Journal archive
SYDNEY-based property investment manager, Intergen Property Group, has acquired the Canberra Civic gateway property, City Walk Centre, for $16.7 million on behalf of a private investor.
Intergen plans to renovate the 4,300 sqm, seven-storey building in the heart of Canberra’s retail, hospitality and office precinct.
The 131 City Walk building’s tenants include King O’Malley’s Tavern, Fernwood Fitness, Modern Dentistry and Supa 24 Convenience store, as well as cafés, dance studio and a range of boutique offices.
Officially opened in April 1970 by Princess Anne, the City Walk Centre was extensively refurbished in 2010 and is about to undergo a major upgrade of its façade.
“The City Walk Centre is one of the best-known destinations in Canberra and we will enhance its position as an allied health precinct with the addition of medical practices and other health-related tenants,” Intergen managing director, Dennis Kalofonos said.
New entries will be created on Mort Street and City Walk.
Leasing agents for the building are Steven Shang and Chris Farmer of Ray White.
Intergen is known for its acquisition of properties across Australia of purpose-built student accommodation on behalf of Wee Hur.
