Markets 
A block left vacant in Fortitude Valley for decades is set to be transformed with a new high-rise tower.
The 22-storey building at 186 Wickham Street will have 180 two-bedroom apartments and a penthouse.
A cafe or restaurant is planned on the ground floor, with 194 parking spaces above it.
It will also include a rooftop terrace with a pool, sauna, steam room and bar.
“[This tower] will increase the residential population within Fortitude Valley, support greater day-to-day activity, and contribute positively to local amenity,” the application lodged with Brisbane City Council said.
The 2225 square metre block is being used as a parking lot accessed via Ranwell Lane, with users charged $25 a day.
Promoters have long used a fence on its boundary to advertise upcoming concerts and events.
W&R Property Pty Ltd lodged the new development application.
Property records show it bought the land in February 2022 for $12.7 million.
In 2023 plans for two towers on the site were approved, but construction did not go ahead.
Brisbane City Council announced plans in 2025 to increase building density in Fortitude Valley as part of its “up not out” push.
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