Changing the face of Brisbane's waterfront
Plans for the Dexus and Dexus Wholesale Property Fund (DWPF)’s city-shaping Waterfront Brisbane project recently received approval from Brisbane City Council, paving the way for a transformational development that will deliver a global-standard business and tourist destination for the city of Brisbane.
Waterfront Brisbane aims to maximise its prime riverside location with enhanced open spaces and a revitalised premier waterfront dining hub. The precinct will include two new towers of 49 and 43 storeys on the existing Eagle Street Pier site, featuring next generation workspaces, premium services and high-quality amenity.
Dexus’s commitment to a significant investment in public infrastructure aligns with Brisbane City Council’s Rivers’ Edge Strategy. The development will create 9,000 square metres of public open space with large plazas opening on to the river and a widened riverwalk for the community. A vibrant promenade will connect to surrounding thoroughfares, enhancing accessibility for visitors and workers.
Dexus Chief Investment Officer, Ross Du Vernet said Waterfront Brisbane will unlock the considerable potential of this gateway site which has remained under-developed for almost 30 years.
“The project’s scale and central riverfront location will firmly establish Waterfront Brisbane as a world class destination and is set to reshape the daily experience of the many people who visit and work there. This transformative development provides the opportunity to enhance future returns by growing the core property portfolio and the portfolios we manage on behalf of our third-party capital partners, while contributing to job creation and the economic growth of our cities.”
Commenting on the development plans, Brisbane City Council City Planning and Economic Development Chair, Krista Adams said: “This refresh will ensure it continues to provide dining, entertainment and spectacular riverside experiences for future generations. The Dexus proposal presented a great opportunity to upgrade Brisbane’s riverwalk network and increase accessibility to the river.”
Featuring the latest in market-leading sustainability practices, this target 6 Star Green Star development is designed to be carbon neutral and aims to set a new standard for urban sustainability in Brisbane. Leading edge technology will combine with exceptional indoor environmental quality while taking advantage of Brisbane’s sub-tropical outdoor climate.
Construction is set to commence in 2022, with the first tower expected to be completed in 2026. Leasing is underway to secure customers seeking to join what will be Brisbane’s most connected and thriving business community.
Investor Relations Manager