PROJECT VISION

Waterfront Brisbane is set to deliver a global-standard business destination that aims to maximise its prime riverside location with enhanced open spaces, retail amenity and a revitalised premier waterfront dining hub.

 

The $2.5 billion transformation of the Eagle Street Pier and Waterfront Place precinct into Brisbane’s premium business destination received development approval from Brisbane City Council in 2020 and is currently under construction. Dexus’s commitment to a significant investment in public infrastructure and open space aligns with the council’s Rivers’ Edge Strategy.

 

 

Acknowledgement of country

 

Dexus acknowledges the Traditional Custodians of the Waterfront Brisbane land, the Turrbal people, and pays respect to their Elders past, present and future.

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WHERE WORK LIVES AND LIFE WORKS

Waterfront Brisbane will include:

-Two new towers with a combined 120,000sqm of premium office space (staged delivery of the towers)


-Riverfront retail precinct including expansive public space, fine dining, casual cafes and convenience retail


-Widened riverwalk at a minimum of 6 metres and up to 14 metres to enhance accessibility


-Architecturally designed restaurant pavilions through the precinct and at Waterfront Place


-New destination dining experience at Naldham House

 

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Artist Impression – Indicative Only

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Artist impression – indicative only

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Artist impression – indicative only

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Artist impression – indicative only

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Artist impression – indicative only

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Artist impression – indicative only

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Artist impression – indicative only

Artist impression – indicative only

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A VIBRANT PRECINCT THAT SUPPORTS THE LOCAL ECONOMY AND SMALL BUSINESSES

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.

 

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THE BENEFITS

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

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24/7 thriving precinct

Waterfront Brisbane will deliver a new, 24/7 thriving precinct and riverfront experience that meets the needs of workers and visitors alike.

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Improved views of river

The transformation will create new vistas to the river from Mary Street and Creek Street and give space to the restored Naldham House. As part of the development, this heritage-listed building was meticulously renovated and revitalised and opened in 2024.

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Widened Riverwalk enhancing access

The new Riverwalk provides improved accessibility for active transport, a pedestrian-friendly Eagle Street, nearby bus network, linkage to Albert Street Station and the Kangaroo Point Bridge.

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Bustling retail strip

Waterfront Brisbane creates a vibrant precinct that supports the local economy and small businesses. 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.

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New moorings for rivercrafts

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

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New riverlink connects the city to the water

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

TIMING

Dexus has partnered with John Holland to deliver this project. Construction has commenced on the five-year program and we are working to minimise disruption through carefully considered construction and transport management plans. As we progress, we will keep you informed with construction and access updates via our Waterfront Brisbane app available for download through the Apple Store or Google Play. The first stage of the development is expected to complete by 2028 and includes the North Tower, market hall retail amenity and the restaurant pavilions.

PRECINCT HISTORY

Eagle Street Pier was once a densely vegetated marshland, at the fringe of a rainforest that is now the Botanic Gardens, providing a rich food source of flora and fauna for the First Nations people of Meeanjin. The precinct has had a colourful history acting as a key gateway to the city, a meeting place and centre for trade.

From 1858 Eagle Street Pier served as the shipping wharves where many coastal passenger and cargo ships would come into 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.

Waterfront Brisbane will amplify the rich history of the site through the heritage-listed, restored Naldham House and the future retail pavilions, to create a destination dining experience.

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FAQ

Waterfront Brisbane is a Dexus project approved by Brisbane City Council to transform Brisbane’s Eagle Street Pier and surrounds into a leading premium business and leisure destination.

Dexus is making 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 $2.5 billion transformation of the Eagle Street Pier will deliver a global-standard business and tourist destination that aims to maximise its prime riverside location with enhanced open spaces and amenity and a revitalised premier waterfront dining hub. The project comprises two new office towers, a riverfront retail precinct and expanded public space, including the widening of the riverwalk and a new destination dining experience at Naldham House. Waterfront Brisbane is co-owned by Dexus and Dexus Wholesale Property Fund.

To complement the commercial development, up to 7,000 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 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 Story Bridge.

Waterfront Brisbane is all about creating a destination area along the river for businesses, workers, locals and visitors.

Dexus will construct two new buildings and retail pavilions including:

  • Two new towers (a combined 130,000 sqm of office space) on the existing site of the Eagle Street Pier, designed to global benchmarks of sustainability and amenity

  • Approximately 7,000 sqm of riverfront dining, cafes and convenience retail

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

Waterfront Brisbane 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.

Brisbane City Council has approved the towers to be 52 and 44 storeys.

Naldham House is a beloved Brisbane landmark.

Waterfront Brisbane celebrates the heritage of this site as a key gateway to the city and centre for trade over the past 150 years. It’s an integral part of Waterfront Brisbane and has been meticulously restored. Dexus partnered with one of Brisbane’s leading hospitality groups, DAP&CO, to re-invigorate this historic building, which reopened in 2024. DAP&CO is the award-winning hospitality group behind Walter’s Steakhouse & Wine Bar, The Gresham Bar and Popolo Italian Kitchen and Bar.

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

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

Eagle Street itself looked into the back-end operations and loading bays of the old restaurant precinct and the location of the building and the way it provided access to its greatest asset, the river, needed improvement.

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

Waterfront Brisbane’s office towers, retail and dining precincts will not exceed the footprint already established by the existing Eagle Street Pier basement and retail tenancies. The new Riverwalk will be widened in places to enhance activation, amenity, and connection to the Brisbane River.

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.

Yes. Waterfront Brisbane will deliver market-leading sustainability outcomes targeting 6-star Green Star, 5.5-star NABERS rating, Platinum WELL V.2 Core and a circular economy precinct commitment.

The project has already set new sustainability benchmarks by achieving a 98% recycling rate onsite during the deconstruction phase. The old Eagle Street Pier precinct was carefully dismantled, the waste was meticulously sorted, processed and used in other construction and infrastructure projects across the City.

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’s sustainability approach and achievements have been globally recognised. Dexus has consistently been named the most sustainable real estate company in the world according to the Dow Jones Sustainability Index 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. 

Some Dexus sustainability portfolio highlights include:

  • Achieved Net Zero for building operations across the group managed portfolio

  • 5.0 NABERS Energy average rating across group office portfolio

  • 4.7 NABERS Water average rating across group office portfolio 

  • 4.9 NABERS Indoor Environment average rating across group office portfolio

  • 100% of electricity sourced from renewable sources in FY22 across our group managed portfolio

The project has been designed and is being built to exceed the current legislative requirements and best practice accounting for the current Regional Flood Model and includes measures to mitigate the impacts of flooding.

Features include elevated building entrances, two types of flood barriers, watertight basement walls, limited openings and no service penetrations.

Stage 1 of the construction program will be delivered over five years and includes the basement, riverwalk, public realm, retail pavilions, common podium and the north tower.

The first phase of Stage 1 will take two years to complete and focuses on the deconstruction of existing structures, reclamation and in-ground foundation works. The first tower (North Tower) is due for completion in 2028. The second tower (South Tower) is likely to be built at a later stage.

The delivery of the Waterfront Brisbane scheme will require closure and diversion of the Riverwalk. The new Riverwalk will be up to 15 metres wide in some areas and will open with temporary finishes in January 2026 with full completion due in 2028.

Dexus has provided an alternate route for pedestrians and cyclists during the construction.

Waterfront Brisbane sets new benchmarks for workplace amenity and vibrant placemaking in Brisbane, revitalising and transforming One Eagle (formerly Waterfront Place) and the Eagle Street area into a premium business, retail and leisure destination.

The project enhances Brisbane’s connection to its iconic River, with beautiful spaces and walkways, a new dining destination, and a new, improved Riverwalk including a six-metre shared promenade at the level of the Brisbane River, rather than above it.

The design of Waterfront Brisbane’s public spaces will reflect the site’s history as the trading centre of early Brisbane and the subtropical climate that Brisbane is known for.

Waterfront Brisbane delivers approximately 7,000 sqm of retail including riverfront dining, casual cafes, convenience retail and fine dining. This is complemented by the creation of more than one hectare of new and revitalised public space including beautifully landscaped, tiered lawns and multiple green, open areas for workers, the community and visitors to enjoy.

Upgrades to existing private jetty facilities will support river tourism along with an opportunity to further enhance public transport connections.

Waterfront Brisbane will enhance active transport through construction of a new, improved Riverwalk. The section of Riverwalk in front of Eagle Street Pier will be widened from two metres to a minimum of six metres and up to 15 metres wide in places.

Multiple ramp access points near Riparian Plaza and at One Eagle will allow cyclists to ride between Eagle Street and the river. It will remain a zone that is shared by pedestrians and cyclists.

Waterfront Brisbane creates a vibrant precinct that supports the local economy and small businesses. It is estimated that the project will support over 1,000 construction jobs over the next decade, with an additional circa 900 operational support jobs once construction has completed.

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.

Dexus customers will benefit from being part of a precinct that provides an enhanced experience for their employees and visitors. More public open space, better connectivity to the river and a safer Riverwalk will make Waterfront Brisbane a more desirable place to work, shop, dine and recreate including:

  • 7,000 square metres of riverside retail and restaurant space

  • Fresh and convenient mix of dining options

  • 7-day a week activation 

  • Improved access to and views of the river

  • A widened and upgraded Riverwalk

  • Safer walking and cycling

  • Lush sub-tropical landscaping accentuating tiered lawns and open spaces; and 

  • Destination dining experience at Naldham House

The following vehicle, pedestrian, and cyclist access changes will occur as part of construction activities:

  • Changed traffic conditions on Eagle Street with temporary lane closures. Traffic control conditions will be in place during lane closures.

  • Changed pedestrian access conditions along Eagle Street

  • Closure of the Riverwalk in front of the site (until it reopens in January 2026) 

  • Closure of the access path from Eagle Street to the Riverwalk, between Riparian and the Waterfront Brisbane site (until it reopens in January 2026)

  • Changed pedestrian crossing conditions at the Felix Street intersection

  • Vehicle access to and from Riparian Plaza and One Eagle will be maintained at all times

Once constructed, Waterfront Brisbane will greatly improve the user experience for cyclists, allowing cyclists and pedestrians to co-exist more comfortably through a new wider Riverwalk, and enhanced connectivity to the Botanic Gardens Riverwalk upgrade and the CityCycle network.

These improvements mean the Riverwalk section from the Stamford Hotel to Riparian Plaza will be closed until late January 2026. Additionally, the adjoining path from Eagle Street to the Riverwalk adjacent to the Waterfront Brisbane site will be closed from 13 January 2025 until the Riverwalk opens in late January 2026. In the meantime, safe and signed redirections will guide pedestrians, cyclists and scooters off the Riverwalk, and back onto either side of the construction zone.

On completion, 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.

You can stay up to date with the project by downloading the Waterfront Brisbane App via the Apple App Store or Google Play store. You can also email info@waterfrontbrisbane.com.au or call 1800 957 850.

Waterfront Brisbane’s office towers, retail and dining precincts will not exceed the footprint already established by the existing Eagle Street Pier basement and retail tenancies. The new and improved Riverwalk will be widened in places to enhance activation, amenity, and connection to the Brisbane River.

WHAT WAS THE PREVIOUS PROJECT PROPOSAL?

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, approved by Council, 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 reduced the overall area of the masterplan.

 

The Queensland Government 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 (ASX: DXS) is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $50.1 billion. The Dexus Platform includes the Dexus listed portfolio and the funds management business. The $14.5 billion listed portfolio includes direct and indirect ownership of office, industrial, retail, healthcare, infrastructure, alternatives and other investments. We manage a further $35.6 billion of investments in our funds management business which connects third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business have a strong track record of delivering performance and benefit from Dexus’s Platform capabilities. The Platform’s $13.3 billion real estate development pipeline provides the opportunity to grow both the listed and funds’ portfolios and enhance future returns. We are deeply connected to our purpose unlock potential, create tomorrow, reflecting our unique ability to create value for our people, customers, investors and communities over the long term. Our sustainability approach focuses on the priority areas where we believe we can make the most impact: Customer Prosperity, Climate Action and Enhancing Communities. Dexus is supported by more than 37,000 investors from 26 countries. With more than four decades of expertise in real asset investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering returns for investors. www.dexus.com 

Dexus Funds Management Limited ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS) (Dexus Property Trust ARSN 648 526 470 and Dexus Operations Trust ARSN 110 521 223) 

Level 30, 50 Bridge Street, Sydney NSW 2000  

Dexus manages and has ownership in 480 Queen Street and 123 Albert Street and the buildings that will be directly impacted by the Waterfront Brisbane project including One Eagle and the heritage-listed Naldham House – all of which will be retained for the Waterfront Brisbane development – and Eagle Street Pier which will make way for two new towers.

DOWNLOAD THE WATERFRONT BRISBANE APPS

For real-time project progress, traffic management and access changes, news, exclusive event invitations and promotions, please download our development app.

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CONTACT US

For queries or more information about the Waterfront Brisbane Precinct get in touch with us, or download the Waterfront Brisbane app. 

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Call or email

Working hours: 9am-5pm Monday-Friday or please leave a message

call 1800 957 850 mail info@waterfrontbrisbane.com.au

About Dexus

Dexus (ASX: DXS) is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $50.1 billion. The Dexus Platform includes the Dexus listed portfolio and the funds management business. The $14.5 billion listed portfolio includes direct and indirect ownership of office, industrial, retail, healthcare, infrastructure, alternatives and other investments. We manage a further $35.6 billion of investments in our funds management business which connects third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business have a strong track record of delivering performance and benefit from Dexus’s Platform capabilities. The Platform’s $13.3 billion real estate development pipeline provides the opportunity to grow both the listed and funds’ portfolios and enhance future returns. We are deeply connected to our purpose unlock potential, create tomorrow, reflecting our unique ability to create value for our people, customers, investors and communities over the long term. Our sustainability approach focuses on the priority areas where we believe we can make the most impact: Customer Prosperity, Climate Action and Enhancing Communities. Dexus is supported by more than 37,000 investors from 26 countries. With more than four decades of expertise in real asset investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering returns for investors. www.dexus.com

 

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.