Dexus Property Group
Stage 2: Detailed Proposal stage of the Market-Led Proposal program
About the proposal
Dexus has a vision to transform Brisbane’s Eagle Street and surrounds into a leading premium business and leisure destination in the heart of the CBD.
The ambition is to revitalise Brisbane’s premier dining hub and give back the waterfront to the Brisbane community, with more green space, more dining options and 1.5 hectares of public open space.
The precinct is to be a haven for pedestrians, creating 60 per cent more walkable area, with a new, wider and safer Riverwalk, and shaded public terraces stepping down to the river.
The Waterfront Precinct proposal includes a mixed-use precinct, incorporating two new towers on the existing Eagle Street Pier site, with the potential for commercial use, residential apartments, a hotel, and retail spaces.
The proposal is a vote of confidence in Brisbane and Queensland as a place to do business, as well as reinforcing the city’s attraction as a tourist destination.
If approved the $1.4 billion proposal could support up to 740 jobs a year during the six year construction period.
For more information visit www.waterfrontprecinct.com.au.
Alignment with government policy, priority and community need
The precinct would have many community benefits including:
- revitalise an aging area of Brisbane City
- create 1.5 hectares of civic space in the heart of Brisbane City
- create a business and tourist destination
- improve flood resilience of the site.
Justification for direct negotiation
- Dexus owns and manages the buildings on the proposed redevelopment site. No other proponent could deliver the proposal.
Value for money
- Brisbane and Queensland would benefit from an improved business and tourist destination at no direct cost to government.
Capacity and capability of the proponent
- Dexus is the nation’s largest owner and manager of prime grade commercial property, including over $4.2 billion of investments across the office, retail and industrial sectors in Queensland.