What's happening at West Block Canberra following Geocon's sale to Oceana Property Partners

Known as the place where Australian prime minister John Curtin communicated with UK prime minister Winston Churchill during World War II, West Block holds rich history within its walls, however has sat unused since 2015.

The three-storey building was recently sold by Geocon for $24.5 million, after the developer scrapped its plans to convert the former government offices to a luxury hotel.

The new owners, Oceana Property Partners, took The Canberra Times on an exclusive tour inside West Block, as internal demolition work nears completion.

The investment management firm plans to reinstate the property as an A-grade office building with luxury inclusions such as end-of-trip facilities, a yoga and wellness studio, café and private dining room.

Built in 1928, West Block was designed by John Smith Murdoch, who also designed Parliament House and East Block. West Block housed the prime minister's department during World War II and features a small building at the back of the 1.7-hectare site known as the "bunker" or "dugout".

It was here that secret messages were encrypted and decrypted between the prime minister and foreign heads of state.

The bunker today houses an electrical substation and bike storage area, changes that occurred prior to the federal government selling the property in 2018.

The new owners plan to keep it as a substation but will refurbish the storage area and add electric bike chargers.

The building's facade is heritage-protected, however much of the internal space is not due to it having been refurbished and redesigned under government ownership.

But there are a few details inside the three-story block that must remain, including the requirement to maintain a line of sight between one end of the building to the other.

Canberra-based design practice Capezio Copeland is leading the historic restoration with a focus on retaining as many of the original features as possible, such as the arched windows dotted around the site.

Brass light fittings that hung in the rooms surrounding what was once the prime minister's office have also been stored away for use in the new fit out.

Timber fittings and original handrails are covered in protective plastic to be retained, while existing walk-in vaults will be incorporated into the design.

Capezio Copeland director Lisa Capezio said the building's design allows ample access to natural light.

"The unique floor plate configuration with dual atriums means each desk is within 10 metres of a natural light source with incredible aspects to the building's natural setting," she said.

"Here in Canberra there's not many opportunities like this, so we're just stoked to be a part of it."

Office workers will have access to "hotel quality" end-of-trip facilities on the ground floor, including bathrooms, a yoga studio and a bike workshop.

Oceana Property Partners CEO Grant Traub also has his sights set on a Peloton bicycle studio.

The public will get a chance to experience the building too, with plans to open the café and dining area to visitors.

Visitors will enter through a porte cochere - a covered entrance - that will be added to the front of the building - a detail that was initially proposed as part of Geocon's hotel plans.

Whether government or private sector tenants will call West Block home is yet to be decided, as the property goes out to market this week.

"The building itself is so unique and since it's so close to Parliament House we will probably be in demand by both sectors," Mr Traub said.

"Ideally, we'd like a single occupier although we've had multiple interested parties from the private sector inquire on this property."

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Kalen Foster, head of investments at Oceania Property Partners, said a key part of the business' strategy is identifying buildings with "inherent or latent value".

"So typically, we like to buy buildings below that replacement cost, come in and do an upgrade and essentially unlock the value that's already inherent in the building," he said.

The building refurbishment is scheduled for completion by the end of 2022, with tenants likely to move in by the first quarter of 2023.

Following the restoration, an additional 700-square-metre pavilion has been proposed next to the building which could house a fitness operator, café or restaurant.

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