Target's Civic store will close on Saturday ahead of upgrade works at Canberra Centre.
A Target spokesperson confirmed the store was closing due to the redevelopment at the centre.
"Canberra is a key market for us and we thank our team, the local community and all of our customers for their support and for shopping with us over the years," the spokesperson said in a statement.
Canberra Centre general manager Gary Stewart said the closure was a "mutual decision" which followed "a period of close coordination and discussion" between Target's parent company, Wesfarmers, and the Canberra Centre.
"Target's departure provides us with a valuable opportunity to unlock retail space at Canberra Centre, allowing us to reimagine the Centre's retail mix in line with our long-term masterplan," Mr Stewart said in a statement.
The centre will begin works on upgrades to that part of the centre in order to "elevate the design of the common mall areas" and to install new glazed doors at each end of the mall for weather proofing.
Mr Stewart said work was being done for two "market-leading brands" to take over the space left by Target, but he did not name the new retailers.
"While it is still too early to share the details of these exciting new retailers, we look forward to making some exciting announcements about these new brands in the coming months," he said.
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