The $3.6 billion waterfront development is now expected to open in August.
The announcement came just before Christmas after the Destination Brisbane Consortium behind the project settled Queensland Supreme Court proceedings and an adjudication application lodged with the Queensland Building and Construction Commission, both initiated by the development’s builder Multiplex.
The Star Entertainment Group, which has a 50 per cent ownership of the consortium, said in a statement to the Australian share market that it expects to pay between $30 million and $85 million to Multiplex as part of the settlement.
“The resolution of this long-running dispute between Multiplex and Destination Brisbane Consortium is a significant and positive step,” said The Star’s group CEO and managing director, Robbie Cooke.
“It removes considerable uncertainty and distraction and enables the project team to now focus solely on the delivery of a transformational precinct that will showcase Brisbane to locals, interstate and international visitors.”
Opening in phases, Queen’s Wharf will be home to The Star Brisbane, including its substantial events centre, which will offer a ballroom capable of seating 2,000 delegates in theatre. The Star Grand will feature in Queen’s Wharf’s first phase of opening, offering 340 guest rooms across two towers. The development will also feature restaurants and bars as well as a the Sky Deck, which will offer event possibilities for up to 1,000 delegates, 100m off the ground. Further hotels will open in later phases.
The Professional Conference Organisers Association (PCOA) is set to host its conference at Queen’s Wharf in December, to showcase the venue to PCOs from Australia and New Zealand, following a joint bid by Brisbane Economic Development Agency and The Star Brisbane.