THE heavy machinery has moved in with work under way on a $2.8 million CBD development.
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The slab should go down in about a fortnight after which Clarence House will quickly emerge at the corner of Clarence and Murray streets.
David Munro, a commercial property consultant representing the developer, said various tenancy negotiations were in progress.
The two-storey building will have retail and offices on the ground floor with office space above.
"It will be a smart looking building," Mr Munro said.
Potential tenants have shown a strong interest in the CBD location.
Negotiations are under way with four potential ground floor tenants and talks are progressing with companies which may be interested in the top floor.
Commitments for the ground floor tenancies were close to being sealed late last week.
"It's a very prominent corner with great exposure, easy access and good parking facilities surrounding it and on-site," Mr Munro said.
There will be about 35 on-site parking spaces.
The ground floor tenancies would suit tourist-oriented businesses.
The Clarence House development coincides with the Town Centre Master Plan revamp of the Clarence and Murray street intersection.
The intersection project includes footpaths, parking changes, kerb and guttering, lighting and will provide an intersection with safer pedestrian access.
"Generally I think it means the place will fall within a very good tourist precinct," Mr Munro said.
It is expected the building will be ready to handover for fit-out early in the new year.