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Lord Mayor Sally Capp said consultants have been engaged to undertake geotechnical and environmental site assessments of the underground soil conditions between Flinders Street and Flinders Lane.

"It's an important step for the project to start these site assessment works. The results will allow us to complete streetscape design for the southern end of Elizabeth Street," the Lord Mayor said.

"We will be transforming the area into a pedestrian plaza with upgraded seating, better lighting, new bluestone paving, drainage improvements and additional trees.

"These upgrades will more than double the amount of pedestrian space and improve access to key public transport interchanges at Flinders Street Station and the Elizabeth Street tram terminus.

"Up to 10,000 people cross the Elizabeth Street and Flinders Street intersection every hour during the morning peak, making it one of our busiest pedestrian intersections."

Deputy Chair of the Major Projects portfolio Councillor Nicholas Reece said the assessment on Wednesday will involve a day of field investigations where contractors will obtain soil samples through three boreholes.

"The boreholes will be drilled within the eastern car parking lane along Elizabeth Street's southbound roadway between Flinders Street and Flinders Lane," Cr Reece said.

"They will provide us with vital information on ground conditions in the area and inform planning for the next stage of the Elizabeth Street south improvement works."

The works will take place within a single day with machinery occupying parking bays. There will be no impact to southbound traffic along Elizabeth Street.

When the borehole works are complete, the road will be reinstated with asphalt as a temporary treatment until the final streetscape improvements begin.

The tender process will take place prior to Christmas with construction to commence in 2020.

