Restaurant operators are eyeing the Midtown precinct in the Brisbane CBD which is going through a development surge

A once-forgotten precinct in the Brisbane CBD is looking up, thanks to a wave of multibillion-dollar development that has given it the potential to become a new dining hotspot.

THE Midtown precinct was once a part of the CBD where no wanted to be.

But underpinned by a multibillon-dollar development surge and uncertainty in Brisbane’s traditional dining hubs, top-shelf restaurateurs are focusing on the precinct bounded by George, Margaret, Charlotte and Edward streets.

The China Chilli group has secured a flagship restaurant site on the ground floor of the Westin Hotel in the Midtown precinct

Rio Tinto has pre-committed to the Midtown Centre in the Brisbane CBD which is schedule to completed in 2021

Innovative Midtown Centre development gets the green light from the Brisbane City Council

Chesters Real Estate’s Michael Platsis recently secured a seven-year lease in the Mary Lane restaurant space on ground floor at Westin Hotel for Melbourne and Sydney-based China Chilli which he said was attracted to the Midtown precinct’s potential and the long-term certainty on the lease.

“From a restaurant's perspective they need to get in and get bedded down, and for China Chilli’s perspective, as well as location, security of tenure was very important to them.,” he said.

From a streetscape that had more than its fair share of tired government buildings, a few heritage gems and nothing much else to excite, the Midtown precinct is riding a wave of development.

Late last year the 5-star Westin Hotel opened its doors on Mary St next door to the new Four Points by Sheraton.

Artist's impression of Ashe Morgan and DMANN Corporation's planned Midtown Centre tower in Brisbane.

Across the road is the development of the innovative Midtown Centre where the Rio Tinto will move its head office and up the road on the corner of Albert St the Cross River rail will have its major CBD train station.

On Margaret St the Skytower is nearing completion while up the road on George St construction has started on the Queen’s Wharf casino precinct.

However, Mr Platsis said while development was drawing interest and people to the Midtown precinct, city changing development elsewhere in the city was creating uncertainty.

He said Dexus’ plans for the redevelopment of one of Brisbane’s premier dining precinct Eagle Street Pier and the emergence of Queen’s Wharf has put many long-term restaurant plans in doubt.

“We have people saying `let’s get into Brisbane but where can you go’,” he said.

“But they’re looking for certainty. These guys are investing large amounts of money on where they are going into and what they need is secure tenure.”