Property Australia

$2.1 billion transformation of Brisbane’s waterfront

Karen Jamal Karen Jamal February 2, 2021

After receiving development approval for the $2.1 billion transformation of the Eagle Street Pier and Waterfront Place precinct, Dexus promises to deliver Brisbane’s premium business and leisure destination.

 

Why we love this project:

  • Two towers of 49 and 43 storeys with a combined 120,000 sqm of office space will be complemented by vibrant active retail and public space
  • A 280-metre riverwalk and a minimum six-metre-wide promenade will allow safe transit
  • The Precinct will feature 9,000 sqm of riverside public open space, equivalent to a football field.

 

Dexus promises Waterfront Brisbane will deliver a “global-standard business and tourist destination” in a prime riverside location, with enhanced open spaces and amenity and a revitalised waterfront dining hub.

Ross Du Vernet, chief investment officer at Dexus, says Waterfront Brisbane will unlock the considerable potential of the gateway site which has remained under-developed for almost 30 years.

“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,” Du Vernet says.

Chair of Brisbane City Council’s city planning and economic development, Krista Adams, says the approval follows six months of working with Dexus “on their plans to enhance the existing riverside destination and deliver a better experience for residents and visitors”.

Eagle Street Pier was established as a dining precinct more than 30 years ago, and Adams says this refresh “will ensure it continues to provide dining, entertainment and spectacular riverside experiences for future generations”.

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As part of the approval, a new 280-metre riverwalk connecting Waterfront Place to the Harry Seidler-designed Riparian Plaza will be constructed, replacing the existing aged path. The new riverwalk will be funded by council and delivered by Dexus, with construction set to begin in 2022.

The transformation will create new vistas to the river from Mary Street and Creek Street and give space to the heritage-listed Naldham House, which will be restored.

The retail offering will include 24/7 cafés, fresh and convenient dining options and direct access to end-of-trip facilities.

The existing Eagle Street Pier restaurant precinct will continue to trade before closing to allow construction to start. The first tower is expected to be completed in 2026.

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