The Queen Victoria Building was restored between 1984 and 1986 by the Malaysian Company, Ipoh Ltd (now owned by the Government Investment Corporation of Singapore), at a cost of $86 million, under the terms of a 99-year lease from the City Council and now contains mostly upmarket boutiques and brand-name shops. During the restoration a car park station was built under York Street. The building's restoration retained its exemplary features including the trachyte stairs, tessellated tiled surfaces and column capitals and created a commercial establishment that houses high end fashion stores, cafés, and restaurants which reflect the original purpose of the building in the city of Sydney.