A development application submitted by State Government owned Queensland Investment Corporation (QIC) shows plans to construct a new 39-story tower at 54 Mary Street, and refurbish three existing commercial towers at 111 George, 33 Charlotte and 54 Mary Street, reports brisbanedevelopment.com.

The proposed plans outline the new commercial tower will include 38,000 square metres of net lettable area, with the ‘whole of site’ development to create a pedestrian-orientated ground floor environment. A new runway linking Mary to Charlotte Street would include twelve retail tenancies plus another seven retail tenancies intended for the integrated office precinct.

The development application states the vision for the project is to “provide an active and vibrant commercial precinct catering for modern tenant services and amenities and complementary retail offerings leveraging off the nearby Queens Wharf Development and the increasing inner-city population.”

The development site is in a prime location to leverage off new developments such as Queen’s Wharf and the new Underground Cross River Rail Station on Albert Street.

Other features of the proposal include:

• New retail area totally 1,085 square metres across the ground level, podium level, and level 1.
• Pedestrian seating areas at frontages along with landscaping
• Reduction and consolidation of some existing vehicle cross overs, which will include expansion and internal reconfiguration of existing basement levels and a new vehicle crossover on Mary Street
• Establishment of a basement end-of-trip facility
• Expanded and new use of ground and plaza levels including commercial offices, food and beverage, potential of child card facility, grocery store, medical and conference facilities.

The Department of State Development, Infrastructure and Planning suggest that by 2031, Brisbane Inner City (SA4 region) could be home to over 300,800 people, an average increase of 1.3% each year between 2011-2031. This predicted figure would equate to 4.6% of the Queensland population.