Brisbane's Eagle Street Pier to receive a $2.1bn redevelopment

Brisbane’s Eagle Street Pier is set to be redeveloped as the Queensland Government and property developer Dexus Group signs a facilitation agreement in December 2019 for the proposed $2.1 billion master plan for Waterfront Brisbane.

“The Palaszczuk Government is facilitating significant private investment to Queensland because it creates jobs and boosts tourism.

“Dexus can now commence the detailed design stage and proceed with development applications,” Minister for State Development Cameron Dick said.

Source: Queensland Government

The proposed master plan will include:

• Two premium office and mixed-use towers on the Eagle Street Pier site
• A variety of riverfront restaurants, casual eateries and shops
• New and revitalised public realm, featuring around 7,900 square metres of open space - includes about 3,900 square metres in the Eagle Street Pier area - incorporating a market square and steps, urban verandah terraces, an extension of the City Reach Riverwalk and a new ‘green’ corridor connecting Eagle Street to the Riverwalk
• Enhanced City Reach Riverwalk supporting cyclists and pedestrians
• Upgraded wharf facilities supporting commercial and river tourism operations with provisions to support the delivery of a new City Reach ferry terminal
• Upgrade to the Creek Street and Charlotte Street intersection to improve pedestrian connectivity

Source: Queensland Government

“This is a landmark project that’s estimated to provide a $5.7 billion boost to Queensland’s Gross State Product (GSP) over the next 40 years, including $230 million in value add to our state’s construction and professional services sectors.

“The Waterfront Brisbane proposal is a city-shaping development for Brisbane’s CBD and one that the Palaszczuk Government is proud to facilitate with Dexus for the benefit of the Brisbane and Queensland community,” Mr Dick said.

Source: Queensland Government

This development is expected to support an average of 1120 construction jobs annually over the next 10 years as well as an additional 916 operational jobs once the project has been completed.

Dexus Group is expecting to submit the required code compliant applications to the Brisbane City Council by mid-2020.

The delivery of Waterfront Brisbane is going to be stages and is subject to Dexus securing all relevant approvals for the project.

Construction on the $2.1 billion project is expected to begin in 2022, with the first tower completed in 2026.

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Source: Queensland Government; Dexus; The Urban Developer; Brisbane Times