Artist’s impression for illustrative purposes only

Project Vision

The Waterfront Brisbane proposal is a city-shaping development for the Queensland capital.

Dexus’s $2.1 billion transformation of the city’s business district embraces the river, incorporating two new towers, riverfront dining and retail outlets and public plazas.

Waterfront Brisbane is designed to enable people and business to thrive.

The public will benefit from a new improved section of the Riverwalk that creates an unimpeded, consistent and generous promenade.

The 30 year old Eagle Street Pier building will make way for two towers of 49 and 43 storeys with a combined 120,000 square metres of office space and a vibrant active retail and public space.

Waterfront Brisbane will be a place that celebrates Brisbane’s sub-tropical climate and delivers a global-standard business address.

Fact Sheets

Waterfront Brisbane

Artist’s impression for illustrative purposes only

New views to the river will be created from Mary Street.

A Vibrant Riverfront

The Waterfront Brisbane proposal delivers on many opportunities from Brisbane City Council’s City Reach Waterfront Master Plan.

The Waterfront Brisbane proposal delivers on many opportunities from Brisbane City Council’s City Reach Waterfront Master Plan.

When Eagle Street Pier building makes way for the two new towers , views from city to the river that have been lost for 30 years will re-emerge.

A new riverlink connects the city to the water and provides direct access to the Riverwalk for cyclists, pedestrians and wheelchairs.

Cyclists and pedestrians will enjoy a waterfront promenade about 280 metres long with a minimum six metre wide thoroughfare allowing safe transit through the precinct.

Dexus is making a significant investment at the river level to create a public and open space that is accessible 24/7.  This will provide additional public realm, a bustling retail strip featuring cafes and direct access to end-of-trip facilities.

New moorings for commercial craft, including river taxis, and a new CityCat terminal will contribute to the riverfront ambiance.

Creek Street will link directly to the Riverwalk, providing easy access for cyclists, wheelchairs and pedestrians, and views to the river from street level.

The Benefits

Waterfront Brisbane will become a pedestrian friendly precinct with many community benefits including:

Enhanced user and visitor experience

Significant private sector investment in long-term infrastructure embraces the river, incorporating two new towers, riverfront dining and retail outlets and public plazas.

Improved views of the river

The transformation will create new vistas to the river from Mary Street and Creek Street and give space to the restored Naldham House. This heritage listed building is currently under renovation and being revitalised as part of the project.

Widened Riverwalk provides access

The new City Reach Riverwalk provides improved accessibility for active and public transport through a new CityCat terminal, a pedestrian-friendly Eagle Street, nearby bus network, linkage to Albert Street Station and the proposed Kangaroo Point Green Bridge.

Bustling retail strip

Dexus is making a significant investment at the river level to create a public and open space that is accessible 24/7 featuring cafes, fresh and convenient mix of dining options and direct access to end-of-trip facilities.

New moorings for rivercraft

New moorings for commercial craft, including river taxis, and a new CityCat terminal will contribute to the riverfront ambiance, delivering a new riverfront destination and city gateway precinct for city workers, residents and tourists.

New riverlink connects the city to the water

Creek Street will link directly to the Riverwalk, providing cycle and wheelchair connectivity between Eagle Street and the river and views to the river from street level.

Timing

Project timing is subject to Brisbane City Council approval of the project’s development application.

The construction of Waterfront Brisbane is likely to be a staged delivery.

It is anticipated that the works on the Eagle Street Pier site will commence in 2022 with the first tower complete by 2026.

Riverwalk will close when construction commences in 2022 and reopen in 2024. Safe pedestrian and cycle access past the site during this time will be a priority.

The second tower is likely to be built at a later stage. In the shorter term, the site for that tower will be a plaza featuring retail and public open space.

Artist’s impression for illustrative purposes only

Timeline

(Indicative Only)

NB: Construction timelines are subject to planning approvals.

Historical map of Brisbane covers the areas of Spring Hill, West End, Kangaroo Point, and the Central Business District. ca. 1863 (ISBN: PODMA001, SLQ)

Click to enlarge

Eagle Street Wharves, Brisbane, Queensland, ca. 1880 (image 185472, SLQ)

Buildings and wharves off the Town Reach of the Brisbane River ca. 1880 (image 185473, SLQ)

Buildings and wharves off the Town Reach of the Brisbane River ca. 1880 (image 185473, SLQ)

Precinct History

The precinct has had a colourful history and acted as a key gateway to the city and centre for trade over the past 150 years.

Eagle Street’s earliest incarnation was as the shipping wharves where many coastal passenger and cargo ships would come in to Brisbane, right up until 1960 when they fell into disuse.

In their final years, the redundant Eagle Street piers were used for car parking and eventually demolished to make way for new development.

The area underwent a renaissance when Eagle Street Pier was built in 1989, transforming it into Brisbane’s premier riverfront dining and entertainment precinct.

The Waterfront Precinct would celebrate the heritage of the site through the heritage-listed Naldham House, currently under renovation, and through recognition of the history of the site as the early wharves and produce markets for Brisbane.

Questions & Answers

The Proposal

What is the Waterfront Brisbane proposal?

The Waterfront Brisbane proposal is a unique opportunity to transform Brisbane’s Eagle Street Pier and surrounds into a leading premium business and leisure destination.

Dexus proposes a significant private sector investment to revitalise this key Brisbane riverside destination with the new and improved City Reach Riverwalk, more greenery, and more access to public open space and amenity.

The aim is to create a place that celebrates Brisbane’s river and sub-tropical climate and delivers a global standard business address and visitor destination in the heart of the CBD.

The proposal includes two new towers on the Eagle Street Pier site, riverfront dining, retail outlets and public plazas with a widened and upgraded Riverwalk for pedestrians and cyclists.

To complement the commercial development, up to 9,000 square metres of new and revitalised public realm spaces will be created for workers and visitors to enjoy. Upgrades to the existing private jetty facilities will support river tourism and the delivery of a new CityCat terminal will enhance public transport connections.

A new, wider Riverwalk section with improved links from Eagle Street, will create a vibrant active river level destination with unrivalled views of the Storey Bridge.

The Waterfront Brisbane proposal is all about creating a destination area along the river for business people, locals and visitors.

What buildings does the proposal include?

Dexus proposes to construct two new buildings and retail pavilions including:

  • Two new towers (a combined 120,000 square metres of office space) with potential office, or other mixed uses on the existing site of the Eagle Street Pier restaurant complex, designed to global benchmarks of sustainability and amenity
  • Additional restaurant and convenience retail space

The footprints of the new towers would be set back from the river, with low rise retail pavilions along the river edge. The aim of the proposal is to give back the waterfront to the Brisbane community and create a place that celebrates Brisbane’s sub-tropical climate.

Are you still looking to close Eagle Street?

The revised Waterfront Brisbane proposal does not require the closure of Eagle Street. Pedestrian amenity will be improved by the creation of wider footpaths, enhanced landscaping and awnings together with additional kerbside pick-up and drop-off facilities.

The existing street level loading dock will be moved to the basement, improving pedestrian amenity.

How tall will the new buildings be?

Buildings on the site are permitted up to approximately 70 storeys consistent with existing buildings in the CBD area and Brisbane City Council City Centre Neighbourhood Plan zoning.

The development application proposes the towers will be 49 and 43 storeys respectively.

Will the heritage building Naldham House be protected?

Naldham House is currently under renovation, with plans to retain it as an integral part of  Waterfront Brisbane. The building celebrates the heritage of the site as a key gateway to the city and centre for trade over the past 150 years, recognising the site’s history as the early wharves and produce markets for Brisbane. The plans provide Naldham House with a view to the river and will be able to be seen from the Riverwalk.

Will any buildings be demolished to make way for the development?

The existing Eagle Street Pier restaurant complex will make way for the construction of public terraces, the new Riverwalk and the two new office buildings and associated retail pavilions.

Why is the Eagle Street Pier restaurant complex being demolished?

The Eagle Street Pier building and surrounds was constructed to be a temporary offering and has well and truly outlived its original intent.

Eagle Street itself looks awkwardly into the back-end operations and loading bays of the restaurant precinct and the location of the building and the way it provides access to its greatest asset, the river, needs improvement.

The proposed Waterfront Brisbane will open up the river with beautiful spaces and walkways, along with enhanced dining and shopping destinations. The design of the public spaces would reflect the site’s history as the trading centre of early Brisbane and the sub-tropical climate that Brisbane is known for.

What would happen to the restaurants, bars and cafes that operate at Eagle Street Pier?

Eagle Street Pier is well known and loved and continues to be a successful destination 30 years after it was opened, however it is in need of renewal to ensure that Brisbane remains a globally competitive destination.

The existing precinct would be rejuvenated as Brisbane’s premier riverfront destination, with enhanced dining and convenience retail options. Dexus is working closely with the existing retailers regarding future options.

Will the proposed development now encroach onto the river?

The commercial towers are located within the existing built form of Eagle Street Pier. The upgraded Riverwalk, some retail tenancies, public realm and private wharf facilities will remain within the Dexus sublease.  The proposed works are within the areas owned or subleased by Dexus.

Will there be any adjustments required to the riverbed leases?

The master plan includes Dexus’s existing riverbed lease areas, with no increase of area required.

The Queensland Government has agreed to convert part of Dexus’s long term leasehold interest (about 1,800 square metres) to freehold to allow delivery of the masterplan. The 1,800 square metres of land reflects a 12 metre extension of the current freehold boundary and remains under the existing Eagle Street Pier basement structure.

The balance areas of the existing riverbed leasehold interest remain unchanged.

Is the project being built on principles of sustainability?

Yes. Waterfront Brisbane will deliver market leading sustainability outcomes. This includes next generation workplace and revitalised riverfront public spaces and sub-tropical design that contributes to the health and wellbeing of its users.

Waterfront Brisbane will be an active and green transport hub with facilities for cyclists and pedestrians, including end-of-trip facilities, electric car charging and car share facilities.

Dexus has a strong track record in delivering buildings that are environmentally sustainable including internationally recognised 1 Bligh Street in Sydney, which set a benchmark in innovation and environmental design, and 480 Queen Street in Brisbane, featuring the first public park within an office building in the Southern Hemisphere.

Dexus’s sustainability approach and achievements have been globally recognised. Dexus was named the most sustainable real estate company in the world according to the Dow Jones Sustainability Index in 2019 and has regularly achieved leading results in other benchmarks such as the GRESB, the Principles for Responsible Investment, and CDP’s Climate Change A-List.

Will there be measures to mitigate the area from the potential of flooding?

Yes. The project will be designed and built in accordance with the current Regional Flood Model and designed to mitigate the impacts of flooding, vastly improving resilience of the site to flooding. Further studies would be undertaken as a part of the detailed planning to ensure that appropriate measures are taken in the construction and operation of Waterfront Brisbane.

Construction period

How long will Waterfront Brisbane take to develop?

The timing of construction is subject to gaining approval of the required development applications to be assessed by Brisbane City Council with relevant State agency referrals.  The construction is likely to be a staged delivery and is anticipated that the main site works on Eagle Street Pier will commence in 2022 with the first tower expected to be completed by 2026, subject to planning approvals.

The second tower is likely to be built at a later stage.

Will the Riverwalk be closed during construction?

The delivery of the Waterfront Brisbane scheme will require temporary closure and diversion of the Riverwalk. Dexus has committed to providing an alternate route for pedestrians and cyclists during the construction through Eagle Street.

The Benefits to Brisbane

What will Waterfront Brisbane deliver to the community?

Waterfront Brisbane presents a unique opportunity to transform Brisbane’s Eagle Street area into a new premium business and leisure destination where pedestrians and cyclists will have enhanced connection to and along the river.

It would open up the river with beautiful spaces and walkways, along with a new dining destination. The design of the public spaces would reflect the site’s history as the trading centre of early Brisbane and the subtropical climate that Brisbane is known for.

The riverside destination will include a new, improved Riverwalk including a six metre shared promenade – at the level of the Brisbane River, rather than above it.

How much public space would there be?

Waterfront Brisbane will include up to 9,000 square metres of new and revitalised public realm , and it is proposed that a larger civic space will be created for workers and visitors to enjoy. Upgrades to the existing private jetty facilities will support river tourism together with delivery of a new CityCat terminal providing enhance public transport connections. Its design will reflect the site’s history as the trading centre of early Brisbane and its sub-tropical climate.

What are the improvements to the Riverwalk?

The section of Riverwalk in front of Eagle Street Pier will be widened from two metres to six metres. Multiple ramp access points near Riparian Plaza and at Waterfront Place will allow cyclists to ride between Eagle Street and the river. It will remain a zone that is shared by pedestrians and cyclists.

How many jobs will Waterfront Brisbane create?

It is estimated that the project would support over 1,000 construction jobs over the next decade, with an additional circa 900 operational support jobs once construction has completed..

What are the benefits to business?

For the retailers, the aim is to create a seven day a week destination venue to improve the viability of the businesses located there.

Creating a destination with strong river connectivity, more public open space, and a shady, sub-tropical environment will increase the vibrancy of the precinct and encourage people to stay longer.

Other businesses in the area will enjoy the benefit of a better work environment, making it easier to attract and retain staff.

What are the benefits to tenants in surrounding buildings?

Tenants will benefit from being part of a precinct that provides a better experience for their employees.

More public open space, better connectivity to the river and a safer Riverwalk will make Waterfront Brisbane a more desirable place to work.

Waterfront Brisbane will be a pedestrian-friendly precinct with many community benefits including:

  • 9,000 square metres of riverside public open space
  • safer walking and cycling
  • fresh and convenient mix of dining options
  • improved access to and views of the river
  • 7-day a week activation
  • a widened and upgraded Riverwalk
  • lush sub-tropical landscaping
  • restoring the river connection for a renovated heritage-listed Naldham House (formerly the Polo Club)
  • enhanced worker and visitor experience.

Traffic and Transport Changes

What road changes are proposed?

No changes are proposed. Eagle Street will remain open and public transport routes are unchanged.

How will cyclists using the Riverwalk be affected by the development?

The plans for Waterfront Brisbane would greatly improve the existing experience for cyclists, allowing cyclists and pedestrians to co-exist more comfortably through a new wider Riverwalk, and enhancing connectivity to the Botanic Gardens Riverwalk upgrade and the CityCycle network.

Waterfront Brisbane will be an active and green transport hub with facilities for cyclists and pedestrians, including end-of-trip facilities, electric car charging and car share facilities.

Proposed changes to the Riverwalk will mean that section will be closed for up to two years. A safe route around the construction site for pedestrians and cyclists will be provided at all times.

Project Approvals

What government approvals are needed to make the project happen?

The project has the Queensland Government’s support which will see the conversion of leasehold land.

Development approval from Brisbane City Council is required. Dexus has lodged development applications and these comply with Council’s planning and development codes.

How do I find out more about the project?

If you would like to register to be included in future consultations please email info@waterfrontbrisbane.com.au or call 1800 957 850.

Previous project proposals

How is this proposal different form what was announced in March 2018?

The previous proposal considered closing a portion of Eagle Street to vehicle traffic from the corner of Market Street to the corner of Charlotte Street.  After detailed planning including traffic modelling this was not supported by Council.

The revised proposal does not require the closure of Eagle Street. Existing public transport network routes along Eagle Street are to be maintained.

Dexus has proposed opportunities to improve the public amenity of Eagle Street, which Brisbane City Council will consider as part of the development application process.

In the previous announcement, 1.5 hectares of public and riverfront open space was mentioned? Why has open space been reduced to up to 9,000 square metres of public realm?

The Dexus proposal announced in March 2018 included 3.4 hectares of Dexus’s land holdings and the proposed closure of portion of Eagle Street. The revised concept does not include a closure of Eagle Street and is focused on revitalisation of the existing Dexus’s land holdings at Eagle Street Pier and Waterfront Place. The reduction in the site area and exclusion of the road closure has reduced the overall area of the masterplan.

The Queensland Government has facilitated the creation of extra public open space by converting long term leases and providing the opportunity for Dexus to position two new towers on the existing Eagle Street Pier site.

Dexus

Who is Dexus?

Dexus is an Australian Real Estate Investment Trust, with $33.8 billion of assets under management.  It is the nation’s largest owner and manager of prime grade commercial property, including over $4 billion of investments across the office, retail and industrial sectors in Queensland.

Dexus invests only in Australia, and directly owns $16.8 billion of properties, with a further $17 billion of properties managed on behalf of third-party clients.

Which buildings does Dexus own in the area?

Dexus manages and has ownership in 480 Queen Street, 10 Eagle Street (Gold Tower), 12 Eagle Street (Blue Tower and The Annex), 123 Albert Street and the buildings that would be directly impacted by the Waterfront Brisbane project including Waterfront Place and the heritage-listed Naldham House – all of which would be retained for the Waterfront Brisbane development – and Eagle Street Pier which would make way for two new towers.

Contact

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Dexus is a long term owner and manager of Australian real estate, with $33.8 billion of assets under management.

Dexus is the nation’s largest owner and manager of prime grade commercial property, including over $4 billion of investments across the office, retail and industrial sectors in Queensland.

As an owner and manager of real estate for the long term, Dexus is committed to creating engaging workplaces and spaces for its customers and the community.

Dexus has a strong capability and track record of developing some of Australia’s premier buildings, including Brisbane’s 480 Queen Street and 123 Albert Street.

The group is committed to sustainable development outcomes, delivering 6 star Green Star office buildings including the internationally acclaimed 1 Bligh Street in Sydney.

Every aspect of their developments is designed to optimise sustainability and customer amenity.

Disclaimer: The information provided in this document is given in good faith and is derived from sources believed to be accurate. Dexus gives no warranty or guarantee and does not make any representation or warranty as to its accuracy, timeliness, completeness or suitability. Dexus and its directors, employees and associates do not accept any responsibility arising in any way for errors in or omissions from the information in this document and do not accept any loss or damage as a result of any person relying on any information in this document, including without limitation any information provided by any third parties or for forecasts or forward-looking statements.