Inside Scoop on the Market Square Redevelopment!

Inside Scoop on the Market Square Redevelopment!

As a business at Market Square, we have the inside story about this new development! Exciting times ahead! We attended a meeting last week where the final plan was unveiled. Market Square has long needed an overhaul but with the thriving, bustling place that it is, this has presented some major challenges.

With the purpose of bringing in new retailers to the area, the work is being completed over 3 stages, and is due to start next week! This huge project, approved by the Brisbane City Council in September 2016, will cost about $40 million, and will go for roughly go for 2 years with the completion target for late 2018. The first stage of its construction will be starting in the middle carpark area, with the addition of a much needed food court.

We know there is a lot of local interest in what’s happening. As mentioned earlier, we can also tell you.

It is expected that by the end of Stage One, approximately 595 car spaces will be provided as a solution to the parking availability issues that Market Square shoppers have been experiencing. The developers, Gum Hoy and Lai Ming Yuen Family Trust, have acknowledged these concerns, which is why they ended up with this proposal that seeks not only the expansion of car parkings but also the expansion of shopping centre itself, opening of roads, internal refurbishments, and extension to the floor area that would cater to more Centre Activities.

An additional 6,785 square metres – resulting in 14,062 square metres – of commercial space will also be built to provide more new shops, new plaza areas, kiosk shops, as well as eating courtyard to the customers. Aside from that, a 24-hour operation time will also likely be given to new retail tenants.

Moreover, Interworks Architects have designed the new Market Square with an intent to help its nearby residents in getting necessary employment opportunities that would support what has been forecasted in terms of population growth and economic expansion.

In Stage Two, approximately 1,630sqm of additional Gross Floor Area with additional car parking will be constructed, whereas demolition of the existing Westpac building will take place in Stage Three to make way for the four-storey construction to happen.

Nevertheless, Brisbane City Council has made careful consideration to limit the operation hours for both indoor and outdoor areas, and that noise mitigation measures should only be installed on the multi-level car spaces. Aside from that, road access has also been proposed via staged upgrade to Mains Road and McCullough Street, Lewina Street to reduce both traffic and noise complaints.

With this major development, it is indeed worrisome that there will be some disruption for a while. But no worries, as we are still here, at the centre of it all! We can’t wait to see the end result; it is sure to be a much better, parking, dining, and shopping experience for everyone!!!