Real estate fund manager Charter Hall is undertaking due diligence on one of Canberra’s most valuable office buildings, and is set to pay a city record price of more than $370 million for the Geoscience Australia headquarters.

The expected sale of the building at 101 Jerrabomberra Ave, Symonston, will smash the previous most expensive sale in Canberra of $335 million paid by Charter Hall and capital partner Singapore sovereign wealth fund GIC for 50 Marcus Clarke Street last October.