Queen St mall retail icons Myer Centre, Wintergarden in limbo over future direction

Tenants are running down leases and a disagreement has left the future of Queen St Mall’s retail icons in limbo. It comes as another part of Brisbane’s CBD is ‘going nuts’ as luxury brands circle.

There are plenty of plans but the question is when will work really get under way on the redevelopment of the Wintergarden and the former Myer centre – or should we say Uptown?

Tenants are running down leases and while Wintergarden’s owner - super fund-backed developer ISPT - recently announced the rebranding and renovation of the Hilton Brisbane, there’s no specific construction schedule for the retail section.

We also hear that the owners of Uptown – ISPT and Vicinity Centres are not in total agreement over a number of issues looking forward.

“It’s a ghost town up there. Nothing has happened. There’s no drawcard,” retail expertGary Mortimerreckons.

The future plans of Brisbane’s Wintergarden and former Myer Centre is in limbo.

But on the flip side he says Edward St at the other end of the Queen St Mall is “going nuts”.

“A few weeks ago Akubra opened their first physical stand-alone store there,” he says.

“You can clearly see premium retail is really working well from QueensPlaza down through Edward St. And what we’re also starting to see is the emergence of fine dining.

“They’re getting prepared for the redevelopment of Eagle St with Waterfront Brisbane and now we have that bridge that connects South Brisbane right across to the bottom end of Edward St, that will pull traffic right into that pocket.”

Akubra ambassador and country music singer Lee Kernaghan, in the new Akubra store in Edward St.

We’ve heard there are plenty of luxury brands on the prowl.

French jeweller Van Cleef & Arpels is close to or has committed to Macarthur House on Edward St while also in the CBD French cosmetics giant Sephora still looking for space.

On the food and beverage side, Brisbane-based collective Anyday – created by Tyron Simon, Bianca Marchi, Ben Williamson, and Frank Li are hard at work.

Long known for its luxury brands, fine dining is starting to emerge in Edward St in the Brisbane CBD.

Later this year the team will open the Middle East inspired Golden Avenue at 67 Edward St.

They are also hard at work in heritage-listed Coal Board House on the corner of Mary and Edward streets creating a multi-level restaurant and bar hub – although what they will end up with is all very hush hush.

Resource worries

The Queensland Resources Council’s State of the Sector Report has identified royalties and taxation reform along with increasing operational costs as the top concerns for CEOs over the next year.

QRC chief executive Janette Hewson says the State of the Sector Report provides a barometer for the industry generating $120.2bn to Queensland mainly through coal, gas, metals and critical minerals.

“We must rebuild confidence after a decade of uncertainty and changing goalposts by the previous government,” she says.

“Increased production costs as well as the continuing impact of coal royalties are creating difficulties for producers. Nearly half of member company CEOs are less confident about the next 12 months for the sector in Queensland on the back of falling demand for commodities, and the rising cost of production with only 35 per cent considering expanding their operations.

“The longer-term outlook is more positive with a majority of CEOs expecting demand to increase over the next three to five years highlighting the ongoing potential of the resources sector to continue supporting jobs and Queensland’s economic prosperity.”

Janette Hewson QRC chief executive.

Originally published as Queen St mall retail icons Myer Centre, Wintergarden in limbo over future direction