Business Case released


July 10, 2017

The City of Melbourne has released the updated Business Case for Queen Victoria Market which found that Council’s $250 million investment in its renewal is critical to the market’s survival.

This independent report 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 updated Business Case, prepared by SGS Economics & Planning, tested three options: business as usual with no increased investment; limited intervention measures; and Council’s full scale renewal program. Following a rigorous assessment, it concluded that Council’s $250 million investment in renewal is the only way to secure the market’s long term viability.

It clearly shows that doing nothing is not an option, and simple structural improvements or a quick facelift are not enough to deal with the market’s ageing heritage buildings and infrastructure. If we want to ensure Queen Victoria Market survives and thrives for generations to come, we must invest in renewal now.

For more information, visit the City of Melbourne website