A major Canberra developer is selling an inner-city site just weeks after work on it was completed.

Molonglo has owned the 12-storey building at 221 London Circuit, originally constructed in 1968, since 2008.

It has spent a decade and $12 million refurbishing the site, including implementing smaller offices for start-ups and not-for-profit companies, building communal areas and upgrading energy efficiency for a 20 per cent reduction in energy consumption.

Most recently, the developer has constructed a car park , complete with underground eateries , on the site.

Molonglo co-director Nikos Kalogeropoulos said the sale of 221 London Circuit had been part of a strategic, long-term plan for the company and that it was not currently planning to divest from other sites.

The Canberra Time

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