Mon, Feb 25, 1:56pm by Staff Writer
A purpose-built casino and entertainment precinct is the headline act of one of Australia’s largest ever private construction contracts.
Top-tier contractors Multiplex and Hutchinson Builders are vying for the “city shaping” Queen’s Wharf contract worth up to $1.5 billion.
This project is being billed as the largest private single development in Queensland’s history, with the $3.9 billion Queen’s Wharf taking up nearly 20 per cent of Brisbane’s CBD or approximately 27.3 hectares.
The construction contract is for the development of the integrated resort component of Queen’s Wharf, that includes a 630-apartment residential tower.
Probuild was awarded the tender for the basement and excavation works that are currently under way.
A spokesperson for Queen’s Wharf developer Destination Brisbane Consortium said that they are working through a “robust tender process.”
“We are working closely with the final tenderers and hope to make an announcement in the near future.”
The Cottee Parker-designed integrated resort development includes the dual-tower The Star-branded hotel and construction of The Rosewood Hotel and The Dorsett Hotel.
The project was approved in 2018 and is being developed by the Destination Brisbane Consortium, according to The Urban Developer.
Casino giant Star has a 50 per cent equity share in the consortium, alongside Far East Consortium (25 per cent) and Chow Tai Fook Enterprises (25 per cent).
Hutchinson and Multiplex are working through what is a complicated tender, with the lump sum of at least 60 per cent of the project costs to be execute under the construction contract.
Star revealed in its half-yearly results that it was targeting a total spend of $2.4 billion for the project, with the winning contractor announced in the fourth quarter.
Industry sources observed this could be as early as April.
The residential component of the project that includes 2000-plus apartments is scheduled to come to market in the middle of the year.
Star casinos, a company with casinos in Sydney, Gold Coast and Brisbane, not hitting 'panic button' as Chinese VIPs get wary – what will be the impact, if any, on the billion dollar Queen's Wharf complex in Brisbane?:https://t.co/ma1Z2AVjlb via @smh
— UrbiumEtOrbi (@UrbiumEtOrbi) February 24, 2019
With a lot of the spotlight in Queensland on a mooted second Gold Coast casino, The Star Gold Coast recently announced its plans for a new concert venue.
The group’s chief executive officer Matt Bekier says the proposed entertainment offering would help the Gold Coast compete with Australia’s major capital cities to host major acts from around the country and the globe.
“An outdoor venue that can stage concerts of small and large scale would drive great cut-through and further enhance the Gold Coast as a music destination,” Mr Bekier told Business News Australia.
Mr Bekier says the Star Entertainment Group wants this proposed venue to be an ‘asset’ to the local community and be embraced as part of the city’s fabric.
“What a wonderful example of the Gold Coast lifestyle to be able to listen to concerts across the water, whether its rock, jazz, classical, or an event that appeals to all ages,” he added.
The Star has partnered with the Gold Coast 2018 Commonwealth Games, The Star
Gold Coast Magic Millions and hosted the TV Week Logies at Broadbeach in recent times.
Mr Bekier is keen to enhance Gold Coast’s existing music scene, with the Star supporting the Blues on Broadbeach festival and hosting the Country Music Awards in the past.
“The Star Gold Coast theatre is an established venue and has regular performances by leading musical acts,” he says.
The outdoor concert venue proposal is still taking shape and The Star Entertainment
Group will need to secure all necessary approvals according to Bekier.
The existing Star Casino on the Gold Coast has recently been approved for A$2 billion in upgrades, with a company spokesman outlining it was focused on expanding its facilities and not on a potential new local player.
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