New Farm's origins begin with the convict days of Brisbane colony. The area was used, some 400 acres, to cultivate potatoes, maize and pumpkins and became known as the new farm and ultimately New Farm. The first buildings appeared in 1847.
In 1923, New Farm had its own house used as a Mass centre and developed as part of the Valley parish.
Holy Spirit Church was opened on June 1st 1930. The school was established in 1930. The foundation Principal was Sr Mary Benigna, a Sister of Mercy. The school opened on July 7th in the old mass centre and did so until 1937 when the existing building was erected to replace the old building. The cost was four thousand pounds and paid for by the generosity of the parish and anonymous donors.
The building which stands today was blessed and opened by Archbishop Duhig. "A large and distinguished gathering assembled and amongst the guests was His Lordship the Administrator-Apostolic of Kimberley, who delivered an inspiring address to the people" (The Catholic Leader, Sept 30, 1937)
The school operated out of a single two-storey wing until 1959 when enrolments climbed. Extensions were made in 1959 when the ground floor level, which runs parallel to Villiers Street, was constructed to house 4 new classrooms.
The hall was opened in 1966 as a memorial hall. The convent was opened in 1970.
In November 1984 the library and library annex was opened and named after the librarian Sr Rosita Williams.
A demountable was moved onto site to accommodate the library and was later used to set up the outside of school hours care program - one of the first in Queensland..
In 2010 the library was extended and the hall and tennis court would undergo extensive refurbishment. In 2012 two new classrooms were built under the existing Prep classrooms to accommodate increasing enrolments.
In 2012 two classrooms were built under the Prep Building. These are now the Year 1 classrooms.
In 2016 two classrooms were built upstairs in the main building and these are now the Middle School Classrooms. A new staff room was built and children's toilet as well as the deck area.
In 2017 development started on the refurbishment of the library and the installation of a new playground on the lower flat.