Vision progresses for a new Waterfront Precinct for Brisbane

The Queensland Government has given a green light to property management company Dexus to progress to the next stage with their proposal to transform Brisbane’s Eagle Street Pier into a premium business and leisure destination.

This decision will see Dexus undertake a full feasibility study of redeveloping the complex and surrounds into a new Waterfront Precinct under the Market-Led Proposal program.

Market-Led Proposals are proposals from the private sector seeking an exclusive commercial arrangement with government to deliver a service or infrastructure to meet a community need.

There are four stages of the MLP framework - preliminary assessment, initial proposal, detailed proposal and final binding offer. The Dexus Waterfront Precinct proposal has completed stage one, and is today moving to stage two.

Queensland Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick commented “should this project reach final approval, this will be a city-shaping development – a world-class mixed-use riverside precinct with public space at its heart.”

Minister Dick said the proposal would see up to 1.5 hectares of public and riverfront open space, including shaded public terraces stepping down to the river and a new, wider Riverwalk section that would continue the alignment along the river with the recently announced botanic gardens Riverwalk project.

He added “Eagle Street Pier is an important, much utilised and much loved location in our city, and our government supports this proposal moving forward because we want to see it continue to thrive, as well as improve access to the Brisbane River from the Brisbane CBD.”

The Dexus proposal includes a section of Eagle Street to be closed to vehicle traffic to create a shaded, pedestrian and cyclist-friendly environment, providing an opportunity to reconfigure the way vehicle and pedestrian traffic currently moves through the precinct.

Dexus Chief Executive Darren Steinberg said plans were still being developed but the opportunity was for a revitalised business and leisure destination which prioritises access to the river and the precinct from the city.

Steinberg advised “the ambition of the proposal is to revitalise Brisbane’s premier dining hub and give back the waterfront to the Brisbane community, creating a place that celebrates Brisbane’s sub-tropical climate and delivers a global-standard business address and tourist destination in the heart of the CBD.

“The proposal is consistent with our strategy of enhancing the CBD assets owned by Dexus and our funds management clients through development and creating engaging workplaces and spaces for our customers and the community.”

He said the vision for the Waterfront Precinct aligned with Brisbane City Council’s New World City Action Plan and supported the Queensland Government’s economic development agenda.

Images show artist's impressions of the Waterfront Precinct proposal. 

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