Rising from the Regent's rubble - an artist's impression of the new Regent development in Brisbane's CBD.
Demolition work on Brisbane's Regent Theatre is "imminent" as new images of the controversial development are revealed.
brisbanetimes.com.au has obtained a proposal to Suncorp promoting Regent Towers development as commercial space for the financial institution, as well as a Suncorp "city campus".
That document from the site's owner, the ISPT super property trust, states decommissioning work had commenced and was nearing completion.
"The demolition contract has been tendered and the contract award to Brookfield Multiplex Construction is expected imminently," it says.
"These works are expected to take four months to complete."
Checks yesterday show the Regent site has been withdrawn from the electricity grid and shops have been emptied.
The bid to Suncorp was made on March 23, 20 days after the bank said publicly it was looking for 30,000 square metres of new office space.
In a March 3 media statement, Suncorp said: "The opportunity for prominent sky signage will be well regarded."
Images in ISPT's proposal to Suncorp show the company's corporate logo boldly emblazoned across the top of the building.
However, Suncorp last night told brisbanetimes.com.au it was not interested in moving to Regent Towers.
A spokesman for the bank said there had been no discussions regarding the site and Suncorp was looking at several options in the Brisbane CBD for office space.
ISPT also owns the adjacent Wintergarden Plaza, which runs through from the Queen Street Mall to Elizabeth Street.
First images of the new Regent Towers obtained by brisbanetimes.com.au show the Elizabeth Street red brick facade as being replaced by a modern, contemporary face.
It will become the entry to a car park with 194 car parks.
Save the Regent spokesman Brent James said the lobby group's worst fear was the old theatre being demolished and nothing being built in its place.
"The developers have removed the greatest hurdle, which is the Regent Theatre," he said.
Mr James said while the great public attention forced the old theatre's foyer and marble stairs to be saved, it appeared the distinctive red brick Elizabeth Street facade was going to be lost.
"It is certainly not part of the developer's plans to retain that facade," he said.
"What they are planing is a ridiculous-looking modern replica of it, I guess."
Mr James said the facade needed to be retained, as there were many nearby "matching" examples in Elizabeth Street.
"It is all part of that red-brick precinct," he said. "You have the Regent, you have the Embassy [Hotel]. Over the road you have the Invicta House - again the red brick and cream - and you have the Royal Albert Apartments, the old Perry House, which is again red brick and cream," he said.
"It was always said that it was prettier on the 'backside' than the front side."
Comment was sought from ISPT chief executive Daryl Browning.
