Major upgrades included the addition of three 180-metre (600 ft) long concrete cantilevered canopies, four platforms, a large concourse, and various amenities such as shopping stalls and food vendors.

However, with a decline in passenger numbers due to the growth of privately owned vehicles and the transfer of rail transport operations to Australian National Railways, the station's significance waned.

[6] Since the closure of the Tasmanian Government Railways, Hobart's public transport infrastructure has seen limited development, and a proposed light rail project (Riverline) has faced uncertainties due to political and financial challenges.

During its peak in the 1930s and 1940s, the Tasmanian railway system was extensive, radiating from Launceston and Hobart to various regional destinations like Herrick, St Marys, and Marrawah.

In 1937, a proposed new railway station plan, outlined by Premier Albert Ogilvie, and submitted for consideration by the Public Works Committee, encountered mixed reactions.

Designed with a 43-metre (140 ft) frontage on Argyle Street and praised for its efficient layout by architect Colin Philp, the station aimed to boost suburban railway traffic.

Estimated at £A225,600, including a 640-metre (700 yd) tunnel under the Queens Domain to avoid public disruption, the project garnered technical approval despite objections from medical professionals at the Hobart General Hospital.

[10] Observers noted the poor condition of the seating, litter such as apple cores and papers scattered around, and structural issues like a shingle precariously hanging from a large hole in the roof.

[13] Discussions also included the potential for integrating a bus terminal with the railway station to create a combined transport hub, which would improve efficiency and reduce traffic congestion.

[14][15] Ultimately, in a post-war state hindered by limited economic prospects, political conversations rooted in bounded rationality continued until the conclusion of the decade.

[6] Under a current development proposal by Cox Architects, the Goods Shed will be relocated about 100 metres (330 ft) north, forming part of the Macquarie Point Stadium precinct entryway.

The fountain, characterised by its Googie architecture, is now protected by heritage listing and continues to serve as a prominent community space, highlighted during events such as Dark Mofo.

[27] It served 45 engine roads and housed modern facilities like hydraulic lifts for removing locomotive wheels, hot water circulation for boiler cleaning, and various staff amenities.