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Southern Precinct

Artist impression of the new Soutern Site.
City of Melbourne has partnered with Lendlease to develop the Southern Precinct. This is the final component in the Queen Victoria Market Precinct Renewal program and part of the formal agreement with the Victorian Government to support the renewal of the market precinct.

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​G​urrowa Place will be built by Lendlease and is set to complement the traditional market experience Melburnians and visitors know and love – bringing new residents and workers to the city’s north and significantly increasing customers to the market. 

The $1.7 billion development will complement a range of projects already delivered by Council in the precinct – including heritage shed restoration, the new Munro library and community hub, hospitality and retail offerings in the Munro development and Mirvac’s build-to-rent project on Therry Street.

​Once the development is complete, market customers and traders will benefit from up to 800 off-street parking spaces in the precinct ​​– meaning there'll be no loss of parking with the transformation of Market Square.

​​Project overview

Gurrowa Place complements the future developments of several Council owned assets, including revamped Franklin Street Stores, a new Queen’s Corner Building, and the creation of 1.8 hectares of new open space at Market Square.​

The site is located to the south of Queen Victoria Market car park, bounded by Franklin, Queen and Peel streets and adjoins the heritage listed Franklin Street Stores.

City of Melbourne led projects​

Market Square

​The existing open-air car park will be transformed into Market Square​ –​ 1.8 hectares of new open space for city residents, workers and visitors to enjoy, and boosting business for traders. The construction of Market Square will ensure the same number of car spaces currently in the open-air car park will be maintained in the precinct at all times. 

The community will have an opportunity to have their say on Market Square once designs are finalised for consultation.  

Queen’s Corner Building

Queen's Corner Building will be a civic pavilion that adjoins Market Square to the north, south and east – providing important amenities for the public space and supporting the activation of the square. 

​Some space in the new Queen's Corner building will be set aside for Council-use once complete, and we will engage with the community once the building is nearing completion to learn more about their aspirations for the new space.  

Franklin Street Stores

​The heritage Franklin Street Stores will be restored as part of the development – retaining and celebrating their heritage and character. The stores will be transformed into retail and hospitality outlets that will open up onto the future Market Square and bring more people to the precinct.  ​

Underway - Franklin Street streetscape upgrade and roundabout removal

We’re creating a new link between the heart of the CBD and the Queen Victoria Market along Franklin Street. The project will deliver more open space for the growing community, as well as providing pedestrians, people riding bikes and motorists a safer journey.

Four lanes of road will become two, with 1250 m² of public open space, wider footpaths, 800 m of protected bike lanes, safety improvements and new trees. Community consultation on the draft concept design took place in August 2023.

​A key part of this transformation is replacing the current roundabout and realigning the roadway with a signalised intersection​, following community engagement in 2019. This change will create an east-west corridor, complementing the streetscape changes and establishing the boundary of the Gurrowa Place development. Works are expected to commence in early 2024 and be completed by mid-2024.   

Lendlease ​led projects​

Gurrowa Place – three new buildings

​Subject to heritage and planning approvals, Gurrowa Place will deliver three new buildings along Franklin Street. 

​The buildings will include build-to-rent apartments and 15 per cent affordable housing, student accommodation, a landmark office space and world-class retail – all connected to the market through the restored Franklin Street stores and Market Square. 

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Artist impressions of Gurrowa Place

Artist impression of Gurrowa Place from corner of Victoria and Peel streets featuring Queen Victoria Market.Artist impression of the Franklin Street stores and Market Square.Artist impression of the aerial view of Gurrowa Place and the three new buildings.

History of the site​

​This development has been in the works for almost a decade. Here’s how Gurrowa Place has come about: 

  • 2014 – the State Government and the City of Melbourne entered into an agreement to transfer Crown land to the south of the Queen Victoria Market – which was to be sold to the private sector to fund the precinct renewal. 
  • 2019/2020 – the City of Melbourne consulted on and endorsed the Market Square Charter, which will ensure the delivery of public open space.  
  • 2021 – Council commenced a divestment process to sell this land. 
  • 2023 – Council endorsed Lendlease as the preferred development partner, with consultation to commence on the use and design of Market Square, Queen’s Corner Building and Franklin Street. 
  • 2024 – Construction to commence in 2024 and be delivered in stages over the next five years. ​
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