Brisbane property Archives - Paddington Today

New Dining and Greener Laneways Planned for Petrie Terrace’s The Barracks

The Barracks on Petrie Terrace is set for a new phase of dining, greener laneways and evening activity as a staged upgrade of the heritage precinct begins over the coming years.

Aware Real Estate has outlined a multi-year program for the 19,433-square-metre precinct at 61 Petrie Terrace, covering its retail, dining and public areas.

For people moving through The Barracks, some of the most visible changes are planned for the spaces between its shops, restaurants, cinema and offices. Laneways are set to gain more shade, seating and greenery, while outdoor dining areas will be reworked.

Arrival areas, wayfinding, lighting and parking are also included in the program. Signage, lighting and outdoor furniture are planned to follow a more consistent design approach linked to the heritage character of the site.

A leasing campaign is under way at the same time, targeting new food and beverage, wellness and everyday convenience operators.

The Barracks at Petrie Terrace — *Photo Credit: The Barracks*

More Planned Beyond Game Days

The plans are intended to broaden The Barracks beyond its existing local and game-day customer base, with the precinct located close to Suncorp Stadium.

New casual dining restaurants form part of that approach, alongside live music and event programming planned for the evening.

The precinct is already about 97 per cent occupied. Existing tenants include Coles, Palace Cinemas and Chemist Warehouse, while Southern Cross Austereo and recruitment technology firm Hatch occupy office space.

Coles and Palace Cinemas will remain as the program proceeds.

Greener Spaces at Petrie Terrace

The public-space changes will be delivered as part of a phased program rather than all at once, with enhancements expected to start this year and continue over several years.

Aware Real Estate chief executive Tracey Whitby has described the plans as an effort to improve the experience within The Barracks while retaining the precinct’s existing heritage character.

The company expects the works to cause minimal disruption while the different stages are carried out.

Brisbane property — *Photo Credit: The Barracks*

A Precinct Built Around Old and New

The Barracks occupies a 1.09-hectare site comprising five buildings, including three heritage-listed structures and a modern A-grade office tower.

Together, they provide 10,393 square metres of office space and 9,040 square metres of retail space.

The site served an entirely different purpose before becoming the present mixed-use precinct. It originally operated as Petrie Terrace Gaol and later became the Petrie Terrace Police Depot and Barracks.

Aware Real Estate acquired the property in October 2025 in a transaction reported at about $150 million. The previous owner, Fortius Brisbane Barracks Trust, paid $162.32 million for the property in 2018.

With the new program planned over several years, the first enhancements to The Barracks are expected to begin in 2026.

Published 20-August-2026

Petrie Terrace: Iconic Caxton Street Sites Enter Market in Rare Offering

Photo Credit: Colliers

Two adjoining commercial properties in Petrie Terrace have been brought to market, marking a rare opportunity within Brisbane’s well-established Caxton Street entertainment strip.

Rare Offering In Brisbane’s NRL Heartland

A tightly held section of Caxton Street in Petrie Terrace is entering a new phase, with 18–26 Caxton Street listed for sale after more than a decade. The offering brings together two adjoining freehold buildings positioned within one of the city’s most recognisable sporting and hospitality corridors.

Located approximately 160 metres from Suncorp Stadium, the site sits at the centre of a precinct long associated with major sporting events and high foot traffic. The strip continues to function as a focal point for pre- and post-event activity, alongside consistent trade as a food and beverage destination.

Dual Buildings With Immediate Flexibility

The Petrie Terrace property comprises two connected buildings with a combined net lettable area of 512 square metres, complemented by external seating space. One tenancy is secured by a long-standing food operator with a lease in place, while the adjoining building is offered with vacant possession.

The larger structure spans four levels and includes an existing liquor licence, providing scope for immediate activation. The property is also fitted with commercial-grade infrastructure, including kitchen facilities, service systems, and multiple bar areas, supporting a range of hospitality or entertainment uses.

Additional features include a self-contained space that can function as an office or residential component, offering further flexibility for future operators or investors.

Positioned For Continued Growth

The Petrie Terrace listing emerges amid ongoing investment activity across the Caxton Street precinct. Recent high-value transactions and new venue concepts have contributed to a broader shift, with the area evolving into a more expansive entertainment destination.

The site’s corner positioning provides strong exposure along Caxton Street, reinforced by a 24-metre frontage that enhances visibility and accessibility. Its zoning supports a mix of uses, aligning with the area’s established hospitality and leisure focus.

commercial real estate — Photo Credit: Colliers

Limited Supply Driving Demand

Freehold opportunities of this scale remain limited within Petrie Terrace, particularly in locations with direct proximity to major event infrastructure. The combination of existing income, vacant space, and established foot traffic positions the property as a flexible asset suited to both owner-occupiers and investors.

Expressions of interest for the Petrie Terrace site are scheduled to close on May 21, reflecting the anticipated level of market interest in a precinct where availability remains constrained

Published 16-Apr-2026

Aware Real Estate Confirms Purchase of The Barracks in Petrie Terrace

Photo Credit: The Barracks/Facebook

Aware Real Estate has acquired The Barracks in Petrie Terrace for about $150 million, with plans to activate new leasing and upgrade facilities across the mixed-use precinct.

Background and Site History

The Barracks at 61 Petrie Terrace was developed in 2008 by Property Solutions with QM Properties. The 1.09-hectare site integrates three heritage-listed buildings with a modern A-grade office tower and retail spaces, totalling 19,433sq m across five buildings. It includes 10,393sq m of office space, 9040sq m of retail tenancies and 451 car bays.

The precinct was acquired in 2018 for $162.32 million by Fortius Brisbane Barracks Trust, an unlisted single-asset vehicle.

Details of the 2025 Acquisition

On 30 and 31 October 2025, Aware Real Estate exchanged contracts to purchase full freehold ownership of The Barracks for approximately $150 million. The sale was managed by JLL and CBRE. Navigator Property Group advised Aware Real Estate during the transaction and will continue to work with the group on long-term asset planning.

Planned Upgrades and Leasing Activation

Aware Real Estate has outlined several value-creation strategies for the precinct. These include activating vacant food and beverage tenancies, improving the presentation of the centre and undertaking upgrades to the office buildings. The group is also preparing for a future relaunch of the precinct once key works are completed.

Market Factors Influencing the Purchase

The purchase aligns with Aware Real Estate’s broader Queensland expansion, following its acquisition of 145 Ann Street for $215.5 million. The group noted strong performance in Brisbane across office, retail and industrial assets.

Nearby development activity includes new residential, build-to-rent and student accommodation projects. Aware Real Estate also expects long-term uplift from infrastructure linked to the Brisbane 2032 Olympic Games.

The Barracks Petrie Terrace — Photo Credit: The Barracks/Facebook

Environmental Credentials

The Barracks holds 6-Star NABERS Energy and Water ratings across both modern and heritage office buildings. A rooftop solar installation of about 335kW supports peak load reduction across the precinct.

Next Steps For The Precinct

The group plans to improve retail activation and building performance before relaunching the precinct. Upgrades are expected to enhance the role of The Barracks as a mixed-use destination in Petrie Terrace.

Published 4-Nov-2025