Dexus moves ahead on a $2.1 billion transformation of the Eagle Street Pier and Waterfront Place

Eagle-Street-Pier

Multi-billion-dollar Brisbane development forges ahead

June 18th 2020 – Media Release

A $2.1 billion transformation of the Eagle Street Pier and Waterfront Place precinct into Brisbane’s premium business and leisure destination is a step closer after commercial property group Dexus lodged development plans with Brisbane City Council today.

State Development Minister Kate Jones said Waterfront Brisbane was a city-shaping development, which Dexus estimates has the potential to create more than 1000 construction jobs over the next decade and breathe new life into an aging section of the city’s much-loved riverside.

“We understand that new infrastructure is crucial to the Queensland’s economic recovery,” Ms Jones said.

“This is a major milestone in a project that will create thousands of jobs for locals in years to come.

“The government has been working closely with Dexus to make this happen.

“Lodgement of the development applications for Waterfront Brisbane is a great step in the right direction and a a vote of confidence in the Queensland economy.”

The project will now be assessed by Council in accordance with the Planning Act and Council’s vison, identified in the Council’s draft City Reach Waterfront Master Plan.

Subject to all development approvals, construction on the Eagle Street Pier site could commence in 2022, with the first tower being delivered in 2026.

Waterfront Brisbane is set to deliver a global-standard business and tourist destination that aims to maximise its prime riverside location with enhanced open spaces and amenity and a revitalised premier waterfront dining hub.

The precinct masterplan includes two commercial towers of 52 and 44 floors, a vibrant active retail area and approximately 9000 square metres of revitalised public realm including a portion of new city reach Riverwalk.

Dexus Chief Investment Officer, Ross Du Vernet said Waterfront Brisbane would unlock the considerable potential of the Brisbane CBD gateway site which had remained under-developed for almost 30 years.

“Waterfront Brisbane will be a great outcome for Brisbane with the renewal of the city’s premium business district, activation of the river and improvements to the Riverwalk,” he said.

“The project’s scale and central riverfront location will firmly establish Waterfront Brisbane as a world class destination and is set to reshape the daily experience of the many people who visit and work there.”

Brisbane is a vibrant city and the Queensland Government is proud to support world-class developments like Queens Wharf and Waterfront Brisbane that deliver contemporary spaces while supporting thousands of construction and operational jobs.

Learn more about how the government is facilitating private investment into the state that will help drive our economic recovery and support our efforts to Unite and Recover.

View the Press Release here