By Juliano Oliveira
The private property group Dexus has got the approval of Queensland Government to go forward with the project of redeveloping Brisbane’s Eagle Street Pier. Both parts have entered into an agreement on a proposed $2.1 billion master plan.
Two premium office and mixed-use towers will be delivered as well as restaurants, shops, entertainment and public areas. City Reach Riverwalk is also set to be enhanced for pedestrians and cyclists. The upgrade of wharf and ferry terminal are part of Dexus’s obligations.
By mid-2020, the private organisation will submit its plan to Brisbane City Council. Construction on the Eagle Street Pier site is expected to commence in 2022 and the first tower to be delivered in 2026.
After the whole transformation, Brisbane’s Eagle Street Pier is expected to be a premium business and leisure destination, according to Minister for State Development Cameron.
“This is a landmark project that’s estimated to provide a $5.7 billion boost to Queensland’s Gross State Product over the next 40 years, including $230 million in value add to our state’s construction and professional services sectors,” Mr Dick said.
Estimations made by Dexus points out that on average 1120 annual construction jobs will be created over the next 10 years, with an additional 916 operational jobs supported once construction has completed.
Dexus Chief Investment Officer Ross Du Vernet said, “this is a significant milestone that unlocks the considerable potential in this Brisbane CBD gateway site which has sat under-developed for almost 30 years.
“Its scale and central riverfront location provide a truly unique opportunity to create a world-class destination for city workers, residents and tourists.
“Waterfront Brisbane is a key project in Dexus’ $8.7 billion development pipeline. We have been encouraged by the support our plans have received from the state government, council and the community, and we’re excited to bring this vision to life.”