IFM to bring apartments into recut plans for 150 Elizabeth Precinct above Brisbane's Queen Street Mall

IFM Real Estate Fiduciary has lodged plans to recast Brisbane’s Wintergarden precinct as a mixed-use city destination, replacing its predominantly retail focus with two towers combining apartments, hotel accommodation, commercial space and retail.

A landscaped hospitality terrace above Queen Street Mall will form the centrepiece of IFM Real Estate Fiduciary’s proposed redevelopment of Brisbane’s 150 Elizabeth Precinct.

The 7,260 sqm precinct, which extends between Queen Street Mall and Elizabeth Street, is proposed to be reshaped around two new towers designed by Woods Bagot. One will accommodate a 240-key hotel with 290 apartments above, while the second will provide commercial office space.  

The redevelopment places a significant emphasis on the podium and public realm.

A new rooftop garden above the retail levels will accommodate restaurants, bars and cafés within a landscaped setting, creating an elevated hospitality destination between the two towers.

At street level, the existing retail offer will be reconfigured alongside new pedestrian connections through the block. A retail laneway is proposed between Queen Street Mall and Elizabeth Street, while existing car park ramps along Elizabeth Street will be removed.

Woods Bagot said the change would substantially alter the precinct’s relationship with Elizabeth Street.

“The proposed redevelopment will remove the existing ramps, significantly improving the pedestrian environment and reinstating a more continuous and active street edge.”

The redesign will also open up views into retail and public areas from Elizabeth Street, while improving passive surveillance and pedestrian movement along the frontage. 

On Queen Street Mall, the development will retain some of the precinct’s most recognisable existing buildings.

The Regent Building, constructed in 1928-29 and listed on both the Queensland and local heritage registers, will remain within the redevelopment alongside 155 Queen Street.

The retained buildings will sit alongside a renewed Wintergarden frontage and new retail uses, allowing the historic Queen Street elements to remain visible within the larger redevelopment.

The planning report describes the project as a precinct-wide redevelopment rather than a standalone tower proposal.

“The revitalised precinct will deliver a carefully curated mix of retail offerings designed to activate the streetscape and enhance the public realm, complemented by an integrated podium rooftop with mix of restaurants, bars and cafés amongst a lush, elevated garden environment.”

The report also identifies the proposed commercial tower as responding to demand for Premium or A-grade office accommodation, while the second tower introduces both upscale hotel rooms and permanent residential uses to the site. 

Immediately adjoining the site is 190 Elizabeth Street, which includes the InterContinental Brisbane and the remainder of the Wintergarden retail precinct.

Central Station, Queen Street bus services and Brisbane Metro connections are all within walking distance, while nearby CityCat terminals provide river transport access.