261-281 Ingles Street, Port Melbourne

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A $2.1 billion redevelopment of Brisbane's Eagle Street Pier and Waterfront Place is on the cards for 2022 and set to be delivered by property giant, Dexus.

The exciting new project will see the rejuvenation of the expansive site, totalling approximately 9,000 square metres of prime riverfront real estate. 

Dexus' plans feature two brand new commercial towers reaching 49 and 43-stories high, along with a revitalised series of riverfront dining venues, public plazas and ferry terminal. The plan also includes the widening of the existing riverwalk, to facilitate better utilisation of the space by pedestrians and cyclists.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dexus.jpg" rel="gallery-all" title="Image supplied."><img alt="Property giant, Dexus, lodge plans for 2.1 billion Brisbane waterfront renewal" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/dexus.jpg?itok=rlqIFsqu" style="width: 580px; height: 387px;" title="Image supplied."></a>

<figcaption>Image supplied.</figcaption></figure>The heritage-listed Naldham House will remain intact; however, a new awning will be added.

Dexus plan to offer the construction industry a total of 1,000 jobs, with 900 ongoing supporting roles available upon completion of the project. 

Delivery of the project will be staggered in two stages, with construction likely to commence in two years to meet stage one completion in 2026. 

<blockquote>
"Waterfront Brisbane will be a great outcome for Brisbane with the renewal of the city's premium business district, activation of the river and improvements to the riverwalk." 
</blockquote>

Ross Du Vernet, Dexus chief investment officer 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dexus3.jpg" rel="gallery-all" title="Image supplied."><img alt="Property giant, Dexus, lodge plans for 2.1 billion Brisbane waterfront renewal" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/dexus3.jpg?itok=NBiKqNNr" style="width: 580px; height: 387px;" title="Image supplied."></a>

<figcaption>Image supplied.</figcaption></figure>The riverfront project is complementary to Dexus' thriving $11.2 billion development pipeline. 

Significant projects include:

<ul>
<li>$2.5 billion Central Place Sydney </li>
	<li>$550 million project at 60 and 52 Collins Street in Melbourne</li>
	<li>$3 billion Pitt and Bridge precinct in Sydney </li>
	<li>Plans are currently in the development stage for Dexus' 274-metres skyscraper in Brisbane </li>
</ul>
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Olivia Round

Property giant, Dexus, lodge plans for $2.1 billion Brisbane waterfront renewal

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Commercial vacancy is nearing an all time low in Melbourne CBD at 3.2%, due to this, leasing opportunities are rare and at an average of $700 per square metre.

75% of the 105,000sqm office space has been leased. Australia’s largest investment trust, DEXUS is weighing a $1.4 billion deal to purchase the QIC property.

After purchasing 60 Collins Street, a 15 story office tower with 12,500sqm of commercial space for $160 million.

The average monthly household income for the Melbourne CBD is $6,594 and the GLP (Gross Local Product) measures the size of the City of Melbourne’s economy. In 2017 it was at $94.69 billion.

80 Collins Link: <a href="https://www.urban.com.au/projects/80-collins-street-melbourne">https://www.urban.com.au/projects/80-collins-street-melbourne</a>

Architect: <a href="https://www.urban.com.au/architects/woods-bagot">https://www.urban.com.au/architects/woods-bagot</a>

Developer: <a href="https://www.urban.com.au/developers/dexus-property-group">https://www.urban.com.au/developers/dexus-property-group</a>
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