Dexus picks up pace at $2b Waterfront Brisbane
The Waterfront Brisbane project will compromise two towers of 49 and 43 floors on the Eagle Street Pier site.

Dexus picks up pace at $2b Waterfront Brisbane

Listed landlord and fund manager Dexus is getting traction on its ambitious $2.1 billion Waterfront Brisbane development, winning a third major tenant, Gadens, in an agreement which takes pre-commitments past one third in the project’s first tower.

The law firm will leave 111 Eagle Street to take 4,500 square metres across three levels of the low-rise floors, joining Deloitte and MinterEllison in Waterfront Brisbane’s north tower. The agreement brings pre-commitments to 35 per cent of the office space in the tower.

The riverside project has development approval from Brisbane City Council and involves two towers of 49 and 43 floors on the Eagle Street Pier site. Around 9000 square metres of public open space will be created, along with shaded terraces with lush landscaping. Nearby, and also forming part of the precinct, is an existing Dexus tower, known as Waterfront Place.

“Gadens’ pre-commitment is demonstration of organisations engaging around the quality of their future workplace as an enabler of workforce productivity and organisational performance,” said Matthew Miller, general manager for Queensland and project leasing at Dexus.

“This is driving a flight to quality in the Brisbane market.”

It is expected construction will get underway later on the first office tower, with a completion date in 2027. The regeneration of the waterfront precinct includes a 280-metre walk and a six-metre-wide promenade that will give bicycles and wheelchairs access between Eagle Street and the river.

The Dexus project is just one element amid a broader development effort across Brisbane that is gathering steam ahead of the 2032 Olympic Games.

Amid that buzz, the decade ahead will generate plenty of business opportunities, according to Gadens executive chairman, Paul Spiro.

“To capitalise on those opportunities, we wanted to be in a state-of-the-art precinct and building so that we could attract and retain staff,” he said.

“We believe Waterfront Brisbane has all the elements required of a ‘best in class’ workplace that will enable us to innovate, connect and collaborate.”

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