Queensland Premier Anna Bligh has announced plans to seek tenders for a new inner city development at the old Supreme and District Court site on George Street.

The Government plans to offer the building to the market for uses such as a luxury hotel site, office accommodation and retail and also seeks expressions of interest for a privately owned and operated theatre as part of the complex.

The Supreme Court taken from the George Street entrance in about 1889 [John Oxley Library neg. 171908]

State Government figures show a real need for high quality accommodation in Brisbane CBD, where accommodation is at 95 per cent occupancy for 56 nights a year.

"The site is in a prime position and we would expect to see considerable interest from the market to build a new five star hotel for Brisbane," said the Premier.

"We will attach to the tender a proposal for a new inner city performance space that can be owned and run privately like so many theatres in Melbourne.

"The exact form that would take will depend on the market interest but this is an incredibly exciting prospect for Brisbane."

Comprising an entire city block and with a gross floor area of 34,488 m2, the Brisbane Supreme/District Court site is very significant in terms of its size, exposure, redevelopment potential and proximity to the Brisbane River.

Comparatively, the site is the thirteenth largest single lot land parcel within the Brisbane CBD. Only six privately owned lots and six government lots exceed it in land area.

The Premier said tenders would go to market in the New Year.

"A portion of the proceeds of the sale would go towards the State Government's one third contribution towards the new $154 million Cairns Cultural Precinct," she said.

"The site on George Street is a prime location and I would expect that its sale will more than cover the State's contribution."

The $154 Million Cairns Cultural Centre Precinct will deliver:

• A Performing Arts Centre - including a 1,100 seat performance space and 23 metre wide stage.
• A multi-purpose rehearsal space which can be used by performing arts companies and community groups for small performances of up to 150 seas
• A low height rehearsal studio for small rehearsals or performances like cabaret
• Restoration of the heritage-listed White's Shed so it can be utilised for community cultural activities, along with enhanced connectivity to the Cairns Cruise Liner Terminal
• A public plaza with canopy for weather protection
• A pedestrian link connecting the Cairns Convention Centre to the Cairns Entertainment Precinct