The Barracks in neighbouring Petrie Terrace is set for a multi-year revamp, with plans for new restaurants, a stronger night-time offering and upgraded outdoor spaces just east of Paddington.
New owner Aware Real Estate has outlined plans to progressively revitalise the 18-year-old precinct, with changes planned across its retail, dining and office areas.
For Paddington residents, some of the most noticeable changes could come through the food and entertainment offering, with new casual dining venues, live music and events planned alongside improvements to laneways and outdoor dining areas.
Major existing drawcards including Coles and Palace Cinemas are expected to remain, along with many of the precinct’s current tenants. The Barracks is reported to be 97 per cent occupied.
What is planned for The Barracks
The revitalisation is expected to be delivered in stages over several years rather than through a single major redevelopment.
Plans include improved entrances and wayfinding, a revised lighting scheme and changes intended to make parking easier to navigate. Outdoor dining areas will be reworked, while the precinct’s laneways are expected to gain additional shade, seating and greenery.
The leasing strategy will also target new food and beverage operators, wellness businesses and services geared towards everyday use.
A broader night-time offering forms part of the plans, including casual dining, events and live music, potentially giving Paddington and Petrie Terrace residents more options close to home.
Signage, lighting and outdoor furniture are also expected to be brought under a more consistent design approach intended to complement the precinct’s heritage character.
Access, parking and movement through the precinct are among the areas targeted for improvement under the program.
Aware Real Estate CEO Tracey Whitby said the property’s heritage and location gave it qualities that newer precincts often tried to create.
“The Barracks has always had something most precincts have to manufacture — genuine character, heritage fabric and a location that puts it at the heart of inner-city Brisbane,” Ms Whitby said.
“Our investment is about making sure the experience matches that potential. We want this to be the precinct that locals choose for their everyday and visitors seek out for something special. This revitalisation program is about building the conditions to achieve that.”
An 18-year-old precinct built around Brisbane history
The Barracks opened in 2008 following the redevelopment of the former Petrie Terrace Police Depot site.
Located at 61 Petrie Terrace, the complex covers 19,433 square metres across five buildings on a 1.09-hectare site immediately west of Brisbane’s CBD.
The development incorporated three heritage-listed buildings alongside newer construction, including an A-grade office tower.
The precinct contains 10,393 square metres of office space and 9,040 square metres of retail space, with Coles and Palace Cinemas among its major retail tenants. Office occupants include Southern Cross Austereo and engineering consultancy Hatch.
The property is managed by JLL with support from Navigator Property Group.
New owner begins longer-term transformation
Aware Real Estate acquired The Barracks in October 2025, adding the Petrie Terrace property to its national portfolio.
The company has also repositioned 145 Ann Street in Brisbane’s CBD, which had about 20 per cent vacancy when it was acquired and has since reached full occupancy.
At The Barracks, the strategy is focused on improving and expanding the use of the existing precinct, including its heritage buildings, laneways and outdoor areas.
Its location also places it between Paddington and the CBD, close to Caxton Street and Suncorp Stadium, giving the precinct a mix of neighbourhood, commuter and event-day traffic.
The first enhancements are expected to begin later in 2026, with the program continuing in phases over several years. Works are expected to be staged to minimise disruption while The Barracks remains open.
Published 7-August-2026
