Key documents

​QVMPR Implementation Framework

The Queen Victoria Market Precinct Renewal Master Plan Implementation Framework was endorsed by Council in July 2016.

The framework provides details on proposed key timeframes for all renewal projects and, importantly, sets out how the market will continue to operate throughout the entire renewal program.

Updated Business Case

An updated Business Case for the Queen Victoria Market’s renewal has been prepared by SGS Economics & Planning and provides the most definitive evidence yet about why renewal is needed; Queen Victoria Market has been in steady decline over the last 20 years and only a major investment can secure its future.

The Business Case tests three options for addressing the market’s challenges: business as usual with no increased investment; limited intervention measures; and Council’s full scale renewal program. Following a rigorous assessment, it concludes that Council’s $250 million investment in renewal is the only way to secure the market’s long term viability.

​State Government Agreement

To support the Queen Victoria Market Precinct Renewal program, the Victorian Government and the City of Melbourne entered into a formal agreement in 2014 to transfer some Crown land south of the Franklin Street stores to the City of Melbourne subject to delivery of a range of obligations across the precinct.

Freehold land will be created as a result of the land transfer, providing opportunities for mixed-use development to add to the vibrancy and potential of the area. Funds secured through the development of this land will be reinvested into the Queen Victoria Market as part of the Queen Victoria Market Precinct Renewal program.

Following the People’s Panel deliberative engagement process resulting in a number of changes in the delivery of the market renewal program, the State Government agreed to vary some of the components to be delivered and the timing commitments with a new agreement executed in 2020.

Key obligations include:

• Restore the market’s heritage sheds and buildings.
• Deliver infrastructure for the market, including improved logistic infrastructure, storage, waste management, customer facilities and market trader facilities and amenities.
• Convert the existing Queen Victoria Market car park into high quality public open space in two phases, commencing in mid 2021 with completion of 500 new carparks in the Munro development.
• Provide a broader range of new retail, hospitality, events and community spaces offerings across the precinct.  
• The intersection of Queen and Therry Streets to be transformed into a new public meeting space that can host markets, festivals and provide enhanced customer amenity, including additional seating.
• Upgrade streetscapes adjoining Queen Victoria Market (Elizabeth, Peel, Queen, Therry and Victoria streets) incorporating best practice urban design, improved paving, tree planting and public transport infrastructure and connections.
• Construct the Queen’s Corner Building to accommodate municipal purposes, market purposes or retail and hospitality purposes complementary to the market and adjoining public open space.
• Reconfigure land parcels, including the retained Franklin Street stores and portions of the Franklin Street road reserve to create mixed-use development sites.
• Removal of the requirement to construct New Franklin Street between the Franklin Street stores and proposed new Market Square and new obligation to create a bike path connection between Dudley and Franklin streets.

Council resolutions 

Since 2013 there have been over 55 decisions by Councillors relating to the Queen Victoria Market Precinct Renewal program. All papers and council resolutions are available. 

Queen Victoria Market Pty Ltd Strategic Brief

The Strategic Brief was prepared by Queen Victoria Market Pty Ltd from  July 2014 to January 2015 for the purposes of informing high level planning for the Queen Victoria Market Precinct Renewal program. It sets out the recommended changes that will enable the delivery of the goals of the market renewal program.