GEOCON buys Canberra’s NRMA House with plans for units and hotel

26 July 2016

Canberra-based apartment developer GEOCON has finalised the purchase of NRMA House in the near city-suburb of Braddon for $25.025 million and plans to build a new hotel and apartment complex.

Insurance group IAG put the site, currently a six-storey office building, on the market earlier this year through CBRE.

GEOCON plans to redevelop the block, which is bounded by Northbourne Avenue, Elouera and Mort Streets, into a new retail precinct to complement the wider shift to inner-city living.

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