Canberra developer Geocon has purchased the Woden Tradies Union Club for $16 million.

The sale includes the site bounded by Launceston Street, Melrose Drive and Furzer Street, which is currently occupied by the Woden Tradies Club, Quality Hotel and adjacent car park.

Geocon Managing Director Nick Georgalis described the site as “another excellent opportunity for a GEOCON trademark precinct-style development. The sale will be finalised next year, a new project in this location aligns with our commitment to meet the increasing demand for quality apartments in Canberra.”

The deal follows the recent acquisition of the City 7 site in Reid and the announcement of an expansion strategy into regional NSW for GEOCON’s Abode Hotels brand.

The development will be Geocon’s second foray into Woden. The company previously transformed Juliana House – a 1970s public service office building – into Australia’s first green-star rated hotel.

Mr Georgalis said Geocon intended to continue to trade the hotel while planning designs for the mixed-use, high-rise precinct were under way.

“We are excited about what Geocon can bring to the Woden precinct,” he added.

Geocon has 1500 apartments under development across Canberra this year, with another 3000 in the pipeline, all in the major town centres or on the light rail route. Its Abode Group is the ACT’s largest hotel brand with 400 hotel rooms under management, another 600 in the pipeline, and expansion plans across regional NSW.