2021

  • 2021. 23 July. The Urban Developer reports details of the planned redevelopment: a $180–200 million, two-stage project by the Lee family and ASX-listed fund manager Millinium, with Torrens University lined up as anchor tenant of the heritage buildings on a 12-year lease, and a roughly 30-storey student-accommodation tower designed by Arkhefield. The article describes the Lee family as "family patriarch Chui Fan Lee and his two daughters, Nancy and Joyce Lee" with a portfolio of more than 50 properties in Brisbane, Ipswich and Toowoomba since the mid-1960s. Note: the article misspells the patriarch's name (correct spelling is Chiu Fan Lee), and misdescribes the family relationships — Nancy and Joyce Lee are sisters, and Chiu Fan Lee and Nancy Lee are married (not father and daughters). See Lees timeline and archives for the documented family history.
  • 2021. 29 July. Eventus Lawyers Pty Ltd applies to the Supreme Court for the winding up of Mount Cathay Pty Ltd (creditor's winding-up application, case 8743/21 ).
  • 2021. 11 August. Mount Cathay Pty Ltd, through planning consultants Urbis, lodges development application A005787848 with Brisbane City Council for the two-stage redevelopment of the whole site (described in the assessment report as 238A, 240, 240A, 242 and 246 Brunswick Street, 250 Wickham Street, and 11 Overell's Lane).
  • 2021. 30 August. Eventus Lawyers files a Notice of Discontinuance of the winding-up application; a final order is made by Registrar Hasan on 3 September 2021 and the application against Mount Cathay ends.
  • 2021. 22 October. A mediator's certificate is filed in case 11907/20 (Mount Cathay and iLife Factory v The Trust Company Limited and Buildcorp Group) recording that the parties had not resolved the dispute.

2022

  • 2022. 28 July. 1480 Logan Road Pty Ltd (ACN 150 964 266) and Waltons Emporium Pty Ltd (ACN 623 381 180) commence Supreme Court proceedings against Chiu Fan Lee, Nancy Lee and Mount Cathay Pty Ltd (case 8947/22, a "Claim - Other"). The pleadings name "The Waltons Emporium Unit Trust" and "The 1480 Logan Road Discretionary Trust", indicating these entities are the purchaser side of a transaction over the Waltons site that has fallen into dispute with the Lees.

2023

  • 2023. 17 January. Urban explorer "Urbex Brisbane" posts a YouTube video, Climbing the Stairs Of Death into Abandoned Department Store | Caught By Security | Brisbane Urbex , showing the derelict interior of the building; the explorers are caught by security.
  • 2023. 7–9 April. Urban explorer "KellieWhite" posts a three-part YouTube walk-through of the derelict interior, "*WARNING boring content* WaltonsBuildingExplore-FortitudeValley2023": part 1 and part 2 (both 7 April), and part 3 (9 April).
  • 2023. 2 May. Mount Cathay Pty Ltd files an originating application against 1480 Logan Road Pty Ltd and the 1480 Logan Road Discretionary Trust (case 5275/23); an affidavit of C. F. Lee is filed on 17 May 2023.
  • 2023. 2–4 May. The Supreme Court hears the trial of Mount Cathay's and iLife Factory's damages claim against The Trust Company Limited and Buildcorp Group (case 11907/20), before Bradley J.
  • 2023. 17 May. Bradley J delivers judgment in Mount Cathay Pty Ltd & Anor v The Trust Company Ltd & Anor [2023] QSC 102 , dismissing all of the plaintiffs' claims with costs. The case concerned alleged trespass and interference with Mount Cathay's leased 598 m² underground access tenement beneath the Valley Metro centre during plumbing and drainage works near the Fortitude Valley station in 2020. iLife Factory Pty Ltd was found to lack a proven lease interest and so lacked standing.
  • 2023. 12 June. Case 5275/23 (Mount Cathay v 1480 Logan Road Pty Ltd) is dismissed by Kelly J.
  • 2023. By 9 July. Voodoo Lulu (which had occupied 240 Brunswick Street / 248 Wickham Street) had opened a shop in Bundaberg, with the owners having relocated there during the COVID period. The Bundaberg Regional Council News article "Alternative fashion a passion at Voodoo Lulu" (Ashley Schipper, 9 July 2023) speaks of the original Brisbane store in the past tense, indicating the Fortitude Valley shop had closed or was no longer the main operation by that date.
  • 2023. 10 August. Mount Cathay Pty Ltd files an originating application against Millinium Capital Managers Limited (case 9955/23); it is resolved by consent, with an order of Callaghan J made on 8 September 2023.
  • 2023. 21 August. Millinium Capital Managers Limited (ACN 111 283 357), as responsible entity of "The Jaga Alternative Income Fund", commences Supreme Court proceedings against Mount Cathay Pty Ltd and Waltons Emporium Pty Ltd (case 10415/23, a "Claim - Other").
  • 2023. 30 November. The State Assessment and Referral Agency (SARA) gives a revised response approving development application A005787848 subject to conditions, as a referral agency for a material change of use within 25 m of a railway corridor.

2024

  • 2024. 29 January. Brisbane City Council approves development application A005787848. The approved scheme, assessed by Senior Urban Planner Dominic Hudson, is a two-stage redevelopment: Stage 1A converts the Overell's and Lincoln Mill's heritage buildings into an educational establishment; Stage 2A demolishes the Walton's (commercial character) and Bragg's (heritage) buildings — retaining their facades — and builds a 31-storey "rooming accommodation" tower for about 500 students, with food and drink outlet, office and shop uses. Five public submissions were received (three in support, two objecting). Source: Brisbane City Council "Notice About Decision Assessment Report" for A005787848.
  • 2024. 21 February. Simon Juniper and LaSalle Investment Management lodge a Planning & Environment Court appeal against Brisbane City Council, with Mount Cathay Pty Ltd as co-respondent, challenging the development approval (case 485/24). LaSalle Investment Management is associated with the neighbouring Valley Metro redevelopment.
  • 2024. 12 May. Urban explorer "JOMY" posts a short YouTube video, abandoned mall fortitude valley , showing the derelict interior of the building.
  • 2024. 20–21 May. The appellants file a Notice of Discontinuance; Williamson KC DCJ makes a final order on 21 May 2024 and the development approval stands.
  • 2024. By September. The ground-floor retail frontages on Brunswick Street and Wickham Street are fully closed off and boarded over. The remaining ground-floor tenants — including I-Life Factory (a discount/variety store; a tenant of Mount Cathay at the time of the 2020 Valley station works and a co-plaintiff in case 11907/20) and A and J Trading — have vacated, following Voodoo Lulu's earlier departure (see 2023 entry). Google Street View imagery captured in September 2024 shows the entire frontage on both streets boarded; the clearing of the ground-floor tenants aligns with the marketing of the site with the development approval in place.
  • 2024. Around September. The site is offered for sale again, this time with the development approval in place: McGees Property markets 238A–250 Brunswick Street, 250 Wickham Street and 11 Overell's Lane, with expressions of interest understood to close on 5 September 2024.

2025

  • 2025. Throughout the year. The two Supreme Court proceedings continue. In case 10415/23 (Millinium Capital Managers, as responsible entity of the Jaga Alternative Income Fund, v Mount Cathay Pty Ltd and Waltons Emporium Pty Ltd), Millinium files an Amended Statement of Claim on 19 August 2025 and Mount Cathay files a Notice of Intention to Defend on 24 September 2025.
  • 2025. October. Both case 10415/23 and case 8947/22 (1480 Logan Road Pty Ltd and Waltons Emporium Pty Ltd v Chiu Fan Lee, Nancy Lee and Mount Cathay Pty Ltd) are managed on the Supreme Court's Commercial List before Hindman J.
  • 2025. 12 December. John Prpic ("Passing Time") publishes a detailed history of the building, Waltons-Sears Department Store, 240 Brunswick Street, Fortitude Valley , tracing it from the 1883 "Overell and White" drapery through Overells Limited, the 1956 Waltons-Sears takeover and later ownership changes to its long vacancy.

2026

  • 2026. January to May. Both Commercial List proceedings continue. Case 10415/23 (Millinium / Jaga Alternative Income Fund v Mount Cathay and Waltons Emporium) has directions hearings and reviews listed through April and May 2026; case 8947/22 (1480 Logan Road Pty Ltd and Waltons Emporium Pty Ltd v the Lees and Mount Cathay) is listed for review on 30 April 2026.
  • 2026. April – May. The site is actively marketed for sale with vacant possession and the existing development approval in place. The realcommercial.com.au listing describes the property as "Vacant Possession" with "Incoming developers can immediately access the site"; the corresponding commercialrealestate.com.au listing (last updated 12 April 2026) shows "For Sale — All Offers submitted".
  • 2026. 15 May. As at this date the Walton's, Overell's, Bragg's and Lincoln Mill's buildings remain derelict and unused, the development approval (A005787848) remains unbuilt, and the ownership and development position between Mount Cathay / the Lees on one side and the Waltons Emporium / 1480 Logan Road / Millinium-Jaga interests on the other appears to remain complicated, with both Supreme Court Commercial List proceedings still active in April–May 2026.
  • 2026. Status note – Torrens University. Although Torrens University was named in the 2019 and 2021 proposals as the intended anchor tenant of the heritage buildings under a 12-year lease, the campus has not opened and Torrens' current public Brisbane campus remains at 90 Bowen Terrace, Fortitude Valley. The reported Torrens commitment appears to have been an agreement for lease with the developer side, conditional on the redevelopment being delivered, rather than an interest binding the land: Millinium's 15 April 2019 ASX announcement of the implementation deed does not mention Torrens at all, and when Torrens' operator was sold by Laureate Education to Strategic Education Inc. (announced July 2020, completed November 2020) the share sale agreement filed with the US Securities and Exchange Commission contains no reference to the Waltons project, 240 Brunswick Street or any new Brisbane campus lease — its only mention of Fortitude Valley is as the location of the existing Bowen Terrace campus, in a restraint-of-trade clause. No SEC filing of either owner mentions the project. This is consistent with any agreement for lease having lapsed when the 2019 acquisition failed to complete, and would explain why the site could be marketed in 2024–2026 for sale with vacant possession and no named tenant. The approved development application still allows an educational establishment, so a university-style use remains possible for a future developer or owner; but no public statement has been found from Torrens itself either confirming a continuing commitment or announcing its withdrawal.