A heritage-listed building on Queen Street will soon house a University of Queensland inner-city campus, following council approval for its post-graduate facility.

UQ submitted a development application to Brisbane City Council in January to convert several levels of the Custom Credit House buildings at 299 Queen Street into a Faculty of Business, Economics and Law campus.

The University of Queensland will open a business-oriented campus in the CBD. Credit:Bradley Kanaris

The sandstone-faced building is understood to have been constructed in 1926 and was entered into the Queensland Heritage Register in 1992.

The register said the seven-storey building provided 114 offices, a basement and caretaker's quarters on the roof and had a $4 million refurbishment in 1983.