Update - Fire in Fyshwick

Firefighters have confirmed a large fire is burning inside a party hire business situated on Gladstone Street.

There has been a partial building collapse with a large amount of smoke in the area. Fire crews have started to work on extinguishing the blaze.

ACT Fire & Rescue has four fire pumpers, the Bronto aerial firefighting appliance and commander on scene.

It's believed at this stage that all occupants have safely evacuated the building.