The Ipswich City Heart Building was acquired from developer Leighton Properties in 2011. The asset forms part of Stage 1 of the $1 billion redevelopment known as ICON Ipswich,located in the Ipswich CBD approximately 39 kilometres south west of the Brisbane GPO.

ICON Ipswichis one of Australia’s largest urban renewal projects spanning four city blocks and anticipated to deliver approximately 170,000 square metres of masterplanned commercial, retail, residential and public space. The project has been designed to revitalise Ipswich City and, on completion, will be a major retail and commercial centre.

Ipswich is in the top five national growth catchments in Australia, with a population of around 175,000 in 2011, projected to increase 164% to 462,000 by 2031.

On completion, ICON Ipswichwill deliver a regional shopping centre, two commercial office towers and residential apartment buildings for 1,000 residents.

The Ipswich City Heart Building offers nine levels of A-Grade office space with 90% of the 17,866 square metres leased to the Queensland State Government. The lower levels consist of a further 2,134 square metres of retail space, with a basement car park accommodating 206 vehicles, 11 mopeds and 120 bicycles.

Located on the prominent corner of Bell and Brisbane Streets, the surrounding development includes the Ipswich City Square Shopping Centre, Ipswich Transit Centre and smaller scale retail and commercial buildings along the Ipswich City Mall.