Brisbane’s The Barracks will undergo a staged redevelopment after new owner Aware Real Estate announced plans to expand dining, evening activities and essential services at the heritage precinct.
The program will be delivered over several years, with the first works scheduled to begin this year. Aware Real Estate CEO Tracey Whitby said The Barracks has heritage value, character and a location near Brisbane’s CBD, but requires investment to increase activity and attract visitors beyond game days.
“We want this to be the precinct that locals choose for their everyday and visitors seek out for something special.”
The plan will expand the precinct’s tenant mix and activities. Aware Real Estate will seek new tenants across food and beverage, wellness and everyday convenience, while adding casual dining restaurants, events and live music. Existing tenants, including Coles and Palace Cinemas, will remain.
Infrastructure upgrades will cover wayfinding, arrival areas, lighting, outdoor dining and parking, while laneways will add shade, seating and greenery. A consistent heritage design language will be applied across signage, lighting and outdoor furniture.
According to Aware Real Estate, the changes aim to increase activity outside business hours, attract more visitors and encourage longer stays, while connecting the office, retail and dining areas.
The plans follow the company’s work at 145 Ann Street, which it acquired in November 2024 with a 20 per cent vacancy rate. Following a lobby refurbishment and the addition of an on-site cafe, occupancy reached 100 per cent.
Whitby said the result demonstrated the benefits of active property management for assets and surrounding communities.
“The Barracks is one of Brisbane’s true heritage gems and this revitalisation program positions it for a strong future,” she said.
Aware Real Estate purchased The Barracks in October last year. Located at 61 Petrie Terrace, the precinct covers 19,433sqm across a 1.09ha site and comprises five buildings on the CBD’s doorstep. The Barracks includes three heritage-listed buildings, an A-grade office tower and a retail precinct.
It has 10,393sqm of office space and 9,040sqm of retail space, with 97 per cent occupancy. Key tenants include Southern Cross Austereo, Hatch, Coles, Palace Cinemas and Chemist Warehouse. JLL manages the precinct, with support from Navigator Property Group.
The works are expected to cause minimal disruption to operations.
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