Multi-million dollar revitalisation of Post Office Square underway

Fresh, vibrant, modern, sleek, and easy to access are not exactly words which have been associated with Brisbane’s Post Office Square – until now!

One of the busiest thoroughfares in the city and a true icon of Brisbane’s retail fabric since opening in 1984, Post Office Square is undergoing an impressive facelift and refurbishment which will make it one of the most exciting and modern food locations in the CBD.

And with workers returning to CBD offices in droves, the food courts which struggled to survive the abandoned cities of the Covid era, are expected to experience a true resurgence.

Simon Juniper of global investment manager, LaSalle – which acquired Post Office Square in 2017 – said they were taking this opportunity to “completely reset the centre with a major investment”.

“Post Office Square is the commercial centre of Brisbane with a direct link to Central train station, and located centrally to more than 100,000 CBD workers,” Mr Juniper added. “Couple this with a strong recovery in the CBD office attendance and we are confident that now is the time to invest heavily to completely reposition the asset.”

Taylor Westlake, Manager of Insights & Master Planning with national business management and retail food consultancy Titanium Food said the high rate of workers returning to offices in Brisbane’s CBD is expected to create a resurgence of food courts.

“As workers are coming back to the office, there will be a need for CBD food courts in some shape or form,” Mr Westlake added. “And luckily for Brisbane [CBD], it has one of the highest rates of office return post-Covid in Australia.

“What workers want is more relevant cuisines and great spaces for their breakfast and lunch breaks.

“Post Office Square is specifically responding to these market changes by curating a vibrant and authentic new mix all set in a stunning new dining precinct with more seats, space, amenities and ambience that appeal to the modern office worker.”

Boasting a wider mall with improvements to the layout, refurbished finishes, new entries, an accessible glass lift and a new tenancy mix, the multi-million dollar re-development will see the thoroughfare between Queen and Adelaide Streets re-energised to become a true food hotspot supported by service retailers.

Ryan Andersen, Managing Director of Retail Development specialists DMA Partners who have been working with LaSalle, said the support and commitment of existing tenants was such a positive for the centre.

“The project team spent 2023 working with our existing tenants and locking in the key operators that wanted to stay in the refurbished centre,” he said. “We were blown away with the support and a number of existing tenants who have now signed new leases and will relocate into new shops with brand new fit outs and improved food offers.

“We are creating a service retail precinct on Adelaide Street and the food precinct will run from the central Oculus all the way through to Queen Street.”

“Originally, the centre was designed in the mid-80s as a fashion mall with lower floor to floor heights and limited services for food operators.

“We saw this as a significant barrier for redevelopment so while we can’t change the levels and configuration of the structure, we identified the opportunity to improve the services by adding new services risers on the Queen Street frontage.

“Having secured a Development Approval for these and a new lift in 2023, we are paving the way for the biggest refurbishment the centre has seen since its original incarnation.

“This has been the catalyst for improving the food mix and we can now introduce food and beverage opportunities all the way to Queen Street, which previously wasn’t possible”.

A feature of the design is the central biophilic oculus – otherwise known as the open, central column of light which characterises Post Office Square – filled with lush subtropical plants, creating the feel of spaciousness and connection with the outdoors.

Seating inside the lower level retail space will triple including fixed seating and loose furniture so patrons can create their own configurations, while the walkways between the shops have been widened to improve access throughout the space.

With 122,000 workers (Source: Titanium Food) located within a four minute radius of Post Office Square and data revealing 84% of office workers purchase food and beverages within 3-4 minutes of their workplace, the right mix of tenants will make Post Office Square a must-visit destination for food and services.

In addition to lunch patrons, foot traffic at Post Office Square is unparalleled in the city with thousands of commuters using the area as a thoroughfare from Central Station to Queen or Adelaide Sts each morning and afternoon.

This development will take Post Office Square to the next level, elevating it above many other locations in the CBD and is expected to create hot competition from eateries for space in the revitalised centre.

Seventeen new and existing tenants have already agreed to enter into new leases at the centre confirming LaSalle’s confidence in the location and the strong growth in the Brisbane CBD.

Construction and tenancy works are now well underway at the centre and tenants will start to open their new stores as early as next week. Stay tuned!

Leasing opportunities are strictly limited. To find out more, contact leasing agents Taylor Macri from JLL on 0403 572 555.