Vicinity lodges Uptown facade DA after $212m deal for IFM stake

Vicinity Centres has lodged a development application for building work at Uptown, the former Myer Centre at 91 Queen St, Brisbane City. Our applications feed recorded the lodgement on 6 October 2026. It follows Vicinity’s $212 million agreement to buy IFM Investors’ 75% interest in the centre.

The application is a proposal only. Brisbane City Council’s Development.i record lists it as In Progress at the Lodgement stage, with no decision.

Why it matters

The record shows application A007125080 as “Carry Out Building Work”, with Vicinity Centres PM Pty Ltd as primary applicant and Urbis as consultant. The listed uses are a shopping centre, a local heritage place and facade alterations to the mall. Assessment level is Code.

The record does not describe the full scope, and its document list was empty when we checked. We cannot say this application is the wider redevelopment. Vicinity has separately said it intends to expedite a redevelopment of Uptown at a project cost it anticipates at $300 million to $350 million.

For builders and facade contractors, the heritage listing and mall frontage point to a specialist scope. Consultants and agents should watch for more lodgements from the same applicant. See our Queensland hub for other CBD activity.

The numbers

• $212 million: Vicinity’s stated price for IFM’s 75% interest, announced to the ASX on 18 February 2026.
• $300 million to $350 million: Vicinity’s anticipated project cost for the Uptown redevelopment, per the same announcement.
• 75%: the interest being acquired. Real Estate Source reports Vicinity has co-owned the centre since 1998, and put the implied 100% value at about $283 million.
• 6 October 2026: the date our applications feed recorded A007125080. The council record shows no submitted date.

Vicinity’s announcement said it expected settlement in June 2026, subject to Ministerial consent over certain ancillary land rights. We did not locate a completion notice, so treat settlement as unconfirmed here.

What’s next

Council will assess the application against the code. Documents on the Development.i record, when published, should clarify the facade scope and any heritage work.

Anything bigger would need its own applications. Until the record or Vicinity says otherwise, the lodgement is a signal of intent, not an approval or a confirmed start date for the $300 million to $350 million program.