Fortitude Valley Station (was Brunswick Street Station)

[ozbob]

Brisbanetimes -->New hotel plan for James Street

[ozbob]

Brisbanetimes --> FV towers will change the city: developer

[Stillwater]

How far would this be from FV Station?

[aldonius]

Couple of hundred metres.

[Jonno]

With all these great building it is becoming more and more evident that there is little Place creation going on by the Council.  The public space are still car dominated thoroughfares which are not places to spend time in but rather escape from!!

[longboi]

With all these great building it is becoming more and more evident that there is little Place creation going on by the Council.  The public space are still car dominated thoroughfares which are not places to spend time in but rather escape from!!

Practically, this would be difficult to achieve on Barry Parade.

However I strongly hope that there is consideration being made to activate that end of Alfred Street - Like what is happening with the Constance Street end.

Ultimately I can see that as an important pedestrian thoroughfare from the Green Square precinct to this proposed development.

[ozbob]

Brisbanetimes --> Brisbane City Council approves Valley Metro project above train station

A $140 million commercial development to be built above Brisbane's Fortitude Valley train station has been given the tick of approval.

Brisbane City Council's City Planning committee discussed the split-tower, 20 and 25 storey, development on Tuesday.

City Planning chairman Julian Simmonds said the site bordering Alfred Street and Brunswick Street had plans submitted to the council for a split design commercial office tower with commercial spaces, food and drink outlets or hotel bar be built on the two currently vacant lots above the train station.

"A new pedestrian arcade link from Alfred Street will also be included in the development, extending through to the Valley Metro entrance to the train station from the site."

Cr Simmonds said the new tower would provide both short and long term benefits for the Fortitude Valley economy, with more than 300 construction jobs, and up to 150 indirect off-site jobs.

"Following completion of this project, we will see the Valley's daytime economy grow, with more residents and workers to take advantage of the dining and retail opportunities that the Valley has to offer."

The council is also currently assessing a separate application for a 30 storey residential building at the Valley Metro site, which would adjoin this commercial building and provide 207 units, a rooftop communal area and two floors of retail space.

Under the application endorsed by the City Planning Committee, the commercial building would form part of the broader Valley Metro site which includes the existing shopping centre and paid car park built in the early 1970's.

The proposal:

    Two towers - a split tower - 20 and 25 storeys
    Commercial office tower 35,067m2 GFA
    Ground floor retail/café/bar 1,144m2 GFA
    Rooftop recreation
    Activated pedestrian arcade link into the Valley Metro mall
    Two basement levels
    Including servicing, 53 car spaces (including 1 disabled space) and 7 motorcycle spaces
    Access from Constance Street
    Changes to the Valley Metro Secure Parking station

[ozbob]

Couriermail --> Brisbane City Council approves 30-storey apartment tower for $500m transformation of the Valley Railway Station

LASALLE Investment Management's plans to transform Fortitude Valley's railway station precinct are a step closer, with Brisbane City Council approving a 30-storey apartment tower.

The approval for 207 apartments on Alfred St comes weeks after BCC approval of a 23-storey office tower nearby, on the corner of Alfred and Constance street.

The approvals are significant milestones in LaSalle Investment Management's plans for a $500 million transformation of the Valley Railway station precinct with the creation of a residential, retail and business hub.

The most significant remaining hurdle for the Valley Metro project is completion of protracted negotiations with Queensland Rail regarding tenure of the retail precinct above the station.

LaSalle Investment Management's fourth pan-Asia opportunistic fund holds a lease on the existing retail space that expires in 2071, and is negotiating for freehold tenure.

"Those negotiations are progressing much more slowly than we had expected, but we remain hopeful that Queensland Rail can see the community benefit in ensuring that the improvements to the precinct can go ahead," LaSalle Investment Management's international director Ian Mackie said.

Construction of the new apartment tower will allow a new entry to the retail space and the station below, providing more air and natural light and contributing to plans for a safer, more vibrant environment.

"The residential tower allows us to create a much more engaging public space at ground level, but we need to resolve issues regarding the retail component and the QR leasehold before we can press ahead," Mr Mackie said.

"We're looking to breathe new life into the precinct, but we can't make such a significant investment without security of tenure."

Under the plans, the existing multi-level commercial car park will be retained but with the BCC's approval of the 23-storey office tower, commuters will no longer need to walk through it to access the station.

Construction of the commercial tower (32,000sq m of net lettable area) is subject to tenant precommitments but is expected to start in the next 12 months.

LaSalle Investment Management has appointed Knight Frank and CBRE to lead the leasing campaign.

[SteelPan]

I'd suggest, as a new high priority inner city project, the effective "sinking" of the entire Central to Bowen Hills rail corridor.

Encourage and incentivise development of "over rail" projects along this corridor over the next decade. Affordable inner-city housing, particularly for the high demand "singles" market, commercial, other residential, cultural, shopping and green space should all be considered.....the inclusion of building over the Main Yards is also an option......

Over to industry and the govt.......   

[SurfRail]

Developers aren't interested in building on top of railways, otherwise it would have been done by now.  Too hard.  Why bother when you can just buy land without the same constraints?

The only interesting things are stations, and the only one not built on is Bowen Hills.  There is a lot more land in and around the Bowen Hills PDA than the fairly small footprint Bowen Hills station has.

[SteelPan]

Developers aren't interested in building on top of railways, otherwise it would have been done by now.  Too hard.  Why bother when you can just buy land without the same constraints?

The only interesting things are stations, and the only one not built on is Bowen Hills.  There is a lot more land in and around the Bowen Hills PDA than the fairly small footprint Bowen Hills station has.

That's nonsense on so many levels it's not funny!  Plenty of places around the world, yes even here in Brissy, build over rail corridors!

[tazzer9]

We only have 4 railway stations which have buildings over them.   5 if you include south brisbane and the Exhibition centre over the line.   Brisbane has some sort of phobia about building over railway lines and stations.    This practice has slowed down elsewhere in australia as well.   There are a lot of stations in brisbane which could easily be built over, but no developer wants to

[#Metro]

It is more expensive to build over a rail station than simply next to it.

You have to guarantee that you won't disrupt services, and do careful planning around high voltage etc.

You also have to deal with State Government and Queensland Rail. Every time. That's much higher risk as there is a political dimension

added.

I would like to see more train stations with development around and perhaps above.

There needs to be a standard protocol to developing over train stations so that these developments are mainstream, not boutique projects.

QR (or whatever operator succeeds it) should have a property development arm to do these things. Coming to think of it, I can't see why QIC

or SunSuper, both QLD Gov't investment GOCs could not work to develop these sites. They could then exit when things are done. State

Government dealing with itself might mean an expedited process.

[James]

Building over railway stations isn't simply a matter of whacking a few poles in the ground, putting a house on top and calling it a day - it is far more complex than that. Because you are building over a railway line, there's all types of OH&S to consider. High voltage lines, the construction of foundations, how workers access certain parts of the construction site etc. All of which raise the cost of construction.

Then you have special technical constraints to consider, such as how many piles & supports can be placed in the ground. At stations, big, bulky columns are often required (see: Toowong, Central) to support even the most basic of high-rise structures, and similarly, away from railway stations, due to how close train tracks are together, it simply isn't feasible to build over a railway line. There are also the maintenance aspects to consider. Apparently one reason there's been a shift away from building over stations is the risk to the structural stability of the station should a train derailment or terrorist attack occur.

Finally - the city isn't running out of land in most parts. Why bother undertaking a technically complex task of building over a railway line when you can build beside it for a lot less? See: The Milton. Why build on top of the station when you can build beside it?

If the demand is high enough, they'll start building over railway lines. But next to them is good enough for now.

[Gazza]

Developers aren't interested in building on top of railways, otherwise it would have been done by now.  Too hard.  Why bother when you can just buy land without the same constraints?

The only interesting things are stations, and the only one not built on is Bowen Hills.  There is a lot more land in and around the Bowen Hills PDA than the fairly small footprint Bowen Hills station has.

That's nonsense on so many levels it's not funny!  Plenty of places around the world, yes even here in Brissy, build over rail corridors!

Yes, but its not the norm for most stations.
The planets have to align....Surrounding sites would need to be so expensive that it becomes worth it to pay the extra cost to build over the line, which happens very rarely, which is why its happened once in Perth, once in Adelaide, and a handful of times each in Sydney / Melbourne / Brisbane.

Not saying its not possible, just that a developer wants to make a return.

[ozbob]

https://twitter.com/Robert_Dow/status/882440092756746240

[ozbob]

Brisbanetimes --> Frustration over Fortitude Valley station access

Train commuters are walking into one of Brisbane's busiest train stations in the dark, past boarded-off escalators, with lights turned off due to a two-decade dispute with two private land holders in Fortitude Valley.

The two land holders own significant buildings adjacent to Fortitude Valley train station, but are unwilling to spend money to maintain their properties, meaning hundreds of commuters from Wickham Street or the McWhirter's building walk through the dark, past derelict, graffittied and abandoned properties to catch a train.

It was a situation that appeared to frustrate Queensland Rail chief executive Nick Easy.

"This precinct is owned by a number of stakeholders and has multiple tenures," he said.

"We have been working with all parties over a period of time and will continue to do so, to seek improvements for our customers."

Now, key Valley businessman Rod Bligh and Liberal National Party state candidate Jamie Forster – in one of the earliest opening salvos for the next Queensland election – say it is time the Queensland government acquired the properties to fix the problems.

Mr Bligh, Queensland's 2015 Engineer of the Year, and a member of the LNP and the Valley Chamber of Commerce, said he was embarrassed by the poor access to the train station and described it as "the main stumbling block in the regeneration of Fortitude Valley".

"The access off Wickham Street has been closed, the escalators have been closed for more a year and there are problems with the access across from the McWhirter's building," Mr Bligh said

"There are no lights."

Mr Bligh, who has won engineering accolades for work with Brisbane's Northern Busway, the South East Busway and several buildings at the University of Queensland, said most commuters walked around to the "disappointing" Brunswick Street entrance.

"It just looks like you are entering a second rate shopping area, rather than entering a major public transport hub," he said.

"And when you think about all the other improvements that are going on in the Valley, this is the one piece of the puzzle that is holding the Valley back."

Mr Bligh said the state government should now acquire the privately-owned buildings next to the Fortitude Valley train station.

"The state government runs the rail network, it is their public infrastructure," Mr Bligh said.

"I am certainly no expert in this area, but I think that is something that the government should take on board as an option."

Mr Forster, the LNP candidate for the newly renamed McConnel (formerly Brisbane Central), held by Labor's Grace Grace for three terms since 2007, said decisive action was needed.

"This has been going on for decades," Mr Forster said.

"It is just dark and unpleasant and potentially dangerous, particularly when you think how many students from Gregory Terrace or All Hallows, or St James go through there.

"I am calling on Grace Grace to make this a priority and to do something about this and not just blame other tiers of government."

Ms Grace said Queensland Rail and other businesses had tried to negotiate a deal, "to no avail."

"It's a bit rich for the LNP to now be pointing the finger at others, given their record of inaction and especially when this is a matter than can't be resolved by the state government alone," she said.

"When the issue reached its height in 2012, the LNP then won office and sat on their hands and did absolutely nothing to resolve the matter."

r Chiu Fan Lee from Toowong owns the Waltons building, the walkway over Wickham Street and sections along Brunswick Street through his business, Mount Cathay Pty Ltd.

Jack Moc owns the empty Chinese Club on Wickham Street, at the top of the inoperative escalators at at the station-side entrance to the walkway, through his company Happy Valley Pty Ltd.

Comment was sought from both through real estate agent Glenn Gracie, who represents both businesses. He did not return calls from Fairfax Media.

In February 2012, then-deputy premier Andrew Fraser suggested it was possible Transport and Main Roads could acquire a lease over the walkway between McWhirter's and Fortitude Valley train station.

Days later, then-transport minister and current Premier Annastacia Palaszczuk confirmed she would offer to licence a pedestrian access to the walkway over Wickham Street to resolve the issue.

Five years on, businesses say the immediate area around the Valley train station – used by 15,000 commuters day - is the worst than they have seen for decades.

The Valley was once Brisbane's retail hub and, despite some investment, fingers are now being pointed at the suburb's train station and threats to some of its Wickham Street heritage buildings, including the Waltons and McWhirter's buildings.

Commuters walking through the 40-metre darkened walkway from the McWhirters Building into the train station told Fairfax Media on Tuesday night they were scared, with one woman saying: "Do something. It's terrible. It's just not safe."

LaSalle Investment Management has made a development application to build three new entrances to Fortitude Valley train station as part of its $500 million redevelopment of the site.

Fairfax Media understands recent talks between LaSalle and the private property owners were unable to resolve the access issues.

LaSalle plans 207 apartments in a 30-storey apartment tower in Alfred Street and a 23 storey commercial tower on the corner of Alfred and Constance Street.

Last month, LaSalle Investment international director Ian Mackie said lease negotiations with Queensland Rail were moving more slowly.

"We're looking to breathe new life into the precinct, but we can't make a significant investment without security of tenure," he said.

Comment was sought from ministers Anthony Lynham (State Development), Mark Bailey (Main Roads) and Jackie Trad (Transport).

[HappyTrainGuy]

Developers aren't interested in building on top of railways, otherwise it would have been done by now.  Too hard.  Why bother when you can just buy land without the same constraints?

The only interesting things are stations, and the only one not built on is Bowen Hills.  There is a lot more land in and around the Bowen Hills PDA than the fairly small footprint Bowen Hills station has.

That's nonsense on so many levels it's not funny!  Plenty of places around the world, yes even here in Brissy, build over rail corridors!

Yes, but its not the norm for most stations.
The planets have to align....Surrounding sites would need to be so expensive that it becomes worth it to pay the extra cost to build over the line, which happens very rarely, which is why its happened once in Perth, once in Adelaide, and a handful of times each in Sydney / Melbourne / Brisbane.

Not saying its not possible, just that a developer wants to make a return.

Not just that. There's lots of work required around stations due to their history. It might be a train station or an empty patch of grass now but in its previous life there could have been a diesel shed there, fabricator shed dealing with asbestos, hazardous material storage etc. Which is what we have seen with the rail yards outside Marooka. It used to be a diesel train servicing facility for NSW trains. Any residential or redevelopment work requires all the ground materials to be tested prior, removed and disposed of. For example the dirt you remove can't just be thrown away like many other sites. It might have to be transported out of the city, processed and then disposed off which is what will be happening with any tunnels through the Mayne yards.

Then you have construction restrictions. You also have to organise your construction with QR shut downs along with working within their safeworking procedures. Any random shut down and you will be forced to pay QR a lot of money (lucky the builders in the valley that had the scaffolding that fall down on the railway line had insurance because apparently QR went after them for quite a decent amount).  You then have to organise with the council about work/noise restrictions and compensating local residents who may be effected.

You then have to allocate service provisions outside the railway corridor (water, sewage, electricity, storm water etc) along with having railway mtce and emergency provisions allocated.

Preserved future rail corridor and services expansion.

You also have to have exhaust systems for the diesel freighters and passenger trains.

And I can keep rattling these things off as the list goes on and on. Many stations can be developed on but does the developer want to fork out the money to do so when they can get even more total profit by buying a few houses beside the railway station and not worry about hazardous material removal?

[SteelPan]

I've suggested now for a number of years, the greater "Valley" area be given to the RAAF for a year, for use as an urban training target.   

Then, we could start with a clean slate and deliver something you don't feel like a tetanus shot and a bath in liquid "Savlon" whenever you leave the place.

At a slightly more practical level, they've been in the process of "upgrading" the station access for about the last 10-15yrs.

one day! - yes, I'm trying to be positive!

[ozbob]

 

[ozbob]

Brisbanetimes --> Valley Chamber joins calls to fix Wickham Street access to train station

Fortitude Valley's Chamber of Commerce has called for the Queensland government to step in so rail commuters did not have to walk through a dark corridor to access the suburb's train station.

Bereft of light and power, with escalators from Wickham Street broken and boarded up, the disrepair has arisen from a long-running dispute between two property owners, Jack Moc and Chiu Fan Lee.

It was a situation that angered local business owners, who say the mess has had a negative impact on their commercial operations.

"It's disgraceful," optometrist Chris Hart said.

"(Business) is down 20 per cent. No-one passes through here unless they have a reason to go past here anymore."

Dr Hart, based at the Valley Metro shopping centre atop the train station, said people took to living on the disused escalators at one stage.

"They dug a hole through the wall and were living down the bottom there, because it is all sealed off," he said.

Across the Wickham Street pedestrian bridge, in the McWhirter's building, Hayley Hal from the Miss Mekong beauty salon said a man tried to grab her daughter in the blacked out section of walkway near the train station.

"We don't go down that way (towards the Fortitude Valley train station) anymore," she said.

"It is just too dangerous. It scares away the customers too. They just say it is scary and it is dangerous."

Ms Hal said she was struggling to pay the rent due to the the lack of foot traffic due to the conditions.

One of those feeling uneasy about walking through the thoroughfare was Lisa Lurie, who said she always felt "a bit anxious" when in the blacked-out section.

"I have been coming through here for at least 10 years," she said.

"And this area is most always dirty. You never know just who is going to poke their head out from around one of the corners."

Valley Chamber of Commerce president Murray Sutherland said he was fed up with the situation.

"I think this whole debate has been going around in circles for so long and it is getting nowhere," he said.

"I think it is time all levels of government work together to get a plan of action in place to do something and make the whole area better for everyone."

Mr Sutherland, who runs his major events promotions company Kinetic from James Street, said the access to the Valley train station was embarrassing.

"That train station is the second biggest in terms of foot traffic in Queensland and it is just ridiculous that in this day and age business and the general public cannot even access the station from Wickham Street," he said.

"It is just silly."

Emails obtained by Fairfax Media showed Brisbane City Council had reported the situation to authorities in 2015.

"BCC is very limited legally about what we can do on this occasion as this is privately owned and maintained escalator that the owners allow the public to use," local LNP councillor Vicki Howard wrote to constituant Aldo Ariti.

"The owners are not Valley Metro on this occasion – Valley Metro continue to maintain two large entry and exit areas to their shopping centre (and therefore the Queensland Rail facility) on Brunswick Street and on Alfred Street.

"That's why, after inspection recently, BCC officers have asked Workplace Health and Safety Queensland to investigate these matters from here as they are the state authority that has the ability to do so."

Comment has been sought from WHSQ.

Mr Sutherland said both the council and successive state governments had tried to resolve issues with both owners.

"We are only really after a minimum level of accessibility for the public," he said.

"It stifles business. It doesn't encourage people to want to come into that train station and in this day and age, we don't see that as an acceptable outcome.

"...It is just a bad look when people just can't get to basic transport easily."

Mr Sutherland said the problems with the poor lighting in the Wickham Street entrance was frequently raised with the Valley Chamber of Commerce.

"Lighting has definitely been an issue that has been raised in terms of being badly lit," he said.

Rod Bligh, Queensland's 2015 Engineer of the Year and a member of the Liberal National Party, this week called on the government to consider acquiring the properties so it could improve access.

A spokeswoman for Transport Minister Jackie Trad said she would wait for advice from the Department of Transport and Main Roads before making comment.

[ozbob]

https://twitter.com/Robert_Dow/status/883063889218252800

[ozbob]

Couriermail Quest --> A $500 million commercial and residential facelift for the Valley Metro precinct means it is now vital Fortitude Valley train station is upgraded, a public transport advocate says.


Rail Train Back On Track's Robert Dow wants Fortitude Valley train station upgraded. Picture: AAP/Josh Woning

RAIL Back on Track's Robert Dow said Fortitude Valley station would not cope with future development pressures and the State Government needed to address peak-hour crush.

The LaSalle Investment Management project, recently approved by Brisbane City Council, includes three towers up to 30 storeys high and a revamp of the existing retail space next to the station.

Mr Dow said the developments would increase commuter and visitor numbers to Fortitude Valley but questioned whether the station's capacity to cope with the influx had been factored into plans.

Mr Dow said the last ­upgrade in 2007 was a big ­improvement but the station still did not have full height platforms for accessibility and would struggle in the future with the current number of escalators, fare gates and size of the concourse.

"It's arguably already one of the busiest stations and what they need to do now is look at the big picture and how these developments will impact the station," Mr Dow said.

"I've spoken to people about the passenger flow and that is a real issue."

According to Queensland Rail chief executive Nick Easy, the station already records 15,000 customer trips in and out of the station each day. Mr Easy said Fortitude Valley station was last upgraded in June 2007.

The $30 million spend included new lifts, escalators, toilet amenities, seating, partially raised platforms, artworks and updated passenger information display screens.

Mr Dow said one of the big disappointments of the 2007 renovation was that the height of the platforms was not raised fully.

He said future upgrades needed to be carried out in a timely and efficient manner.

"Our approach to ­upgrades in Queensland is archaic," Mr Dow said.

"They need to close the station, like they do in other parts of the country, and get on with the job — what takes four weeks in other states, takes 16 months in Queensland."

Mr Easy said Queensland Rail would keep the ­community informed of any future upgrades.

What could be done:

Extra escalators

Raising the platform to full height to improve passenger boarding times

Widening the concourse

Improve lighting

More fare gates

[verbatim9]

I agree with all the upgrade points raised in the article, especially platform heights and extra escalators.

What could be done:

■ Extra escalators

■ Raising the platform to full height to improve passenger boarding times

■ Widening the concourse

■ Improve lighting

■ More fare gates

[BrizCommuter]

Fortitude Valley needs at least twice as many fare gates as present as well. There can be queues back to the top of the escalator in the am peak (which is verging on dangerous). The 2007 refurb was very half-arsed.

[ozbob]

I agree with all the upgrade points raised in the article, especially platform heights and extra escalators.

What could be done:

■ Extra escalators

■ Raising the platform to full height to improve passenger boarding times

■ Widening the concourse

■ Improve lighting

■ More fare gates

Yo.  They were the points I mentioned to the journalist.

The only reason there are humps is because we pushed for raised platforms when we became aware that no platform raising was planned back in 2007 and the humps were a compromise at the time.  Another half baked effort of course overall Briz indeed ... even if an improvement on the old Brunswick Street station as it was.

Onwards!   

[Gazza]

With all the development in the area, a northern exit and gate line will be needed down the track too.

[ozbob]

With all the development in the area, a northern exit and gate line will be needed down the track too.

Good point Gazza. Talked a little about that as well. 

Certainly a lot of scope for improvement.

[kram0]

Great work Oz Bob. Briz Commuter hit the nail on the head, it was a half arsed upgrade last time. With the planned works in the area, the time to do it properly with all the additional apartments and commercial building either under construction or planned is now.

When do they plan to start work on the commercial towers above the station?

[ozbob]

Thanks. Not sure when construction starts but they have been approved.  Someone might have more information.

[ozbob]

Preliminary details of a new international university campus proposed for Fortitude Valley opposite the McWhirter Centre in the red brick Overell Building in Wickham Street.
Sydney investment company Millinium Capital also wants to build a 30-storey building over Valley Station. pic.twitter.com/ql7pR8WyYE

— Tony Moore (@eastTMoore) August 5, 2019

[verbatim9]

Preliminary details of a new international university campus proposed for Fortitude Valley opposite the McWhirter Centre in the red brick Overell Building in Wickham Street.
Sydney investment company Millinium Capital also wants to build a 30-storey building over Valley Station. pic.twitter.com/ql7pR8WyYE

— Tony Moore (@eastTMoore) August 5, 2019

This is a great concept and project with a good use of space

[timh]

As much as I love infill development, building upward not outward and more efficient use of airspace in the inner city, I am very concerned about the gentrification of fortitude valley.

Live music venues and gentrified apartment developments don't mix. Just look at what happened to West End. I'm glad we've got developers like Hutchinson willing to sink money into decent new live music venues, but smaller venues will struggle if rent price is pushed too high. We've had far too many close in recent years.

[ozbob]

Brisbanetimes --> International university and student accommodation planned for Valley hub

An international university campus and a high-rise student accommodation are planned to tower above the Fortitude Valley train station.

In plans to be lodged this month by Sydney fund manager MilliniumCapital, the university campus would be housed in Fortitude Valley's famous red-brick heritage-listed Overells Building in Wickham Street.

A 30-storey tower would be erected over the Valley train station, slightly to the Wickham Street side of the block.

The $180 million international university campus and student accommodation centre is planned for the L-shaped site of the Waltons Building, which wraps around Brunswick Street and Wickham streets in Fortitude Valley.

Negotiations have been under way since August 2017 to transform the dilapidated section of Fortitude Valley.

In April 2019 the site was acquired by Millinium Capital, which promised a mixed-use development before the end of 2019.

On Monday, an associated fund manager, Millinium Alternatives Fund, released general details of the plan.

Millinium Alternatives said it had secured a 12-year lease for the university in the Overells Building.

"A 12-year agreement to lease, with options, has been signed with an international NASDAQ-listed university, for its new Fortitude Valley campus," the statement reads.

A Millinium Alternatives spokesman on Monday declined to the name the university.

"A development application, with concept drawings, is due to be lodged with Brisbane council later this month," the statement reads.

"When fully developed and tenanted, the gross value of the development is expected to be approximately $180 million.

"The project's first stage, which is expected to be completed by the end of 2020, will involve refurbishment of the heritage-listed Overells and Lincoln Mills buildings and a fit-out for the university being designed by Arkhefield Pty Ltd.

"The university's front entrance will revitalise the Wickham Street facade and the existing Brunswick Street shopfront," it continues.

"Overells Lane will be opened up, with access to the station and the building and a university-owned restaurant will be established on the lower ground floor."

The older Waltons Building will be demolished as part of second stage of the development, although the building's facade will be retained.

The development would include a new public plaza, a link from Brunswick Street to the Fortitude Valley train station and a retail precinct.

The buildings date back to the early 1900s, when Fortitude Valley grew to become a retail heartland for Brisbane, including Brisbane retailers TC Beirne, McWhirters and Waltons.

Waltons Limited moved into the Valley in the 1950s, alongside famous drapery business Overells Pty Ltd, which had established several stores and a thriving business in the inner-city suburb since the turn of the century.

Overells was bought out by Waltons in 1956, at the height of the retail boom in Fortitude Valley.

Since 1984, the Waltons building has been one of five Valley properties owned by an investment company managed by the Lee family.

Chui Fan Lee and his two daughters Nancy and Joyce amassed a property portfolio of more than 50 properties in Brisbane, Ipswich and Toowoomba since the mid-1960s, through an investment company called Mount Cathay Pty Ltd.

The Lee family decided to sell the properties in 2017, with property agent Knight Frank overseeing the site's negotiations.

Brisbane Times was advised that details were not yet finalised, however the media statement from Millinium Capital says "discussions already under way with a major national retailer".

Expressions of interest will be sought to manage the student accommodation.