The shortlist of firms competing to design the Queensland Performing Arts Centre's (QPAC) new $150 million theatre has been revealed after an expressions of interest campaign.

The five shortlisted consultants will now go on to develop concept designs for the new 1500-seat theatre, with the successful applicant to be announced later this year.

The Palaszczuk government promised $125 million in the Queensland budget to a new theatre, with QPAC to contribute the remaining $25 million.

When realised, the new theatre will make QPAC Australia’s largest performing arts centre, with the potential to host an extra 300,000 visitors each year.

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“Today’s announcement of the shortlist marks another important step for the new venue, which will further Queensland’s artistic talent and increase our ability to tell unique and important stories for this and future generations,” Minister for the Arts Leeanne Enoch said.

The shortlist:

• M3 Architecture/ARM Architecture

• Richard Kirk Architects

• Wilson Architects

• Blight Rayner

• Cox Architecture

“With QPAC nearing full capacity, this new theatre will ensure our state’s four home companies, including Queensland Ballet, Queensland Symphony Orchestra, Opera Queensland and Queensland Theatre, can continue to grow and will enable them to perform in front of audiences that will be double their usual size,” Premier Annastacia Palaszczuk said.

All submissions in the expressions of interest process were assessed by the tender evaluation committee against criterion including capability and capacity, relevant experience and local benefits.