Casino and hotels group Echo Entertainment, has won a $2 billion tender to rebuild Brisbane’s Queen’s Wharf precinct into a major hotel, casino and residential complex, beating rival James Packer’s Crown Resorts.
Echo, which runs Sydney’s The Star, Jupiters on the Gold Coast and adjacent Treasury Casino in Brisbane, is part of a consortium called Destination Brisbane, with the Chinese conglomerate Chow Tai Fook and Hong Kong’s Far East Consortium, announced as the preferred tender by the Queensland government on Monday.
Premier Annastacia Palaszczuk says the project “will change Brisbane’s CBD”. The precinct is currently home to a number of government departments and buildings which will be knocked down to make way for five hotels amid five high-rise towers, as well as 2500 apartments, more than 50 bars and restaurants, a water park and new pedestrian river crossing from Southbank. The most impressive part of the design is the sky deck, 25 floors up, looking out over the river to the west.
The government departments are moving to the $650 million 46-floor 1 William Street building, which is due to be completed in late 2016, meaning redevelopment of the Queen’s Wharf site will note begin before 2017.
The Treasury casino will be relocated to the new site and the 19th century building will become a “high end department store” 20 years after it first opened as a casino.
The premier said that one of the things appealed about the Echo consortium’s bid was the large amounts of public space in the design, which includes a moonlight cinema and around 12 football fields of open space.
Echo Entertainment claims the site will provide 8000 jobs and attract an extra 1.39 million people annually to the city.
CEO Matt Bekier said the consortium wanted to create Australia’s best integrated resort.
“It will be an asset for this state that will compete with anything around the world – a development of which the people of Brisbane will be immensely proud,” he said.
“This is an exciting announcement for us, and for Queensland, when you consider the infrastructure, job and public amenity opportunities that are part of the overall Queen’s Wharf plan.”
Here’s the consortium’s video of how the site will look:
MORE PHOTOS BELOW
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.