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.