Queen’s Wharf opening to revive Brisbane – and Star Entertainment

After nearly a decade of construction, the $3.6 billion redevelopment of a formerly desolate corner of Brisbane’s CBD is about to spring into life with hopes it will transform the city skyline – and the fortunes of troubled Star Entertainment.

Star’s resort and casino complex at Queen’s Wharf has faced a stream of delays as the gaming giant was dragged through three inquiries relating to money laundering and organised crime.

But the troubled listed company hopes it is finally poised to reap the benefits of the major build, which it says will redefine the rapidly growing Queensland capital.

“We have leaned into our challenges and issues and have been working very hard on a reset with our regulators and a focus on putting the building blocks in place for complete cultural reform,” Star Brisbane chief executive Daniel Finch told AFR Weekend.

Across the Brisbane River from the beach lagoon and strip of restaurants at South Bank, Queen’s Wharf will finally open its doors to the public on Thursday, kicking of a staged launch of establishments on the sprawling 12.5-hectare site.

The signature arc-shaped Sky Deck – which floats 100 metres above the river bridging the various buildings – has already altered the city’s skyline.

The 50 restaurants, cafes and bars along with the 340-room Star Grand hotel and residential towers will breathe life into the corner of the city that neighbours the historic Parliament House and the City Botanic Gardens.

A pedestrian bridge, Neville Bonner Bridge, will be opened as part of the initial launch to connect Queen’s Wharf and South Bank, while the soon-to-be completed Kangaroo Point Bridge will join the new development to a growing residential peninsula to the east.

The mega project is a potentially transformational moment for Star Entertainment, with Queen’s Wharf to eclipse The Star Sydney as its flagship asset as the company pivots its focus away from its troubled gaming business and into its integrated resort offering.

The casino operator will boost its workforce from 1400 to nearly 3000 when it completes its move from the ageing Treasury site in the city to Queen’s Wharf.

“Brisbane is the number one fastest-growing major Australian capital city over 10 years and we are proud to be part of its dynamic growth,” Mr Finch said.

Competition for fun

Celebrity chef Luke Nguyen’s Fat Noodle and Sydney’s popular Sokyo Japanese restaurant will open at Queen’s Wharf on Thursday along with the casino floor and nearly 1500-seat ballroom.

The dozens of new hospitality venues could reorientate the city’s dining scene, with industry leaders anxiously preparing for a jolt to a sector already feeling the crunch from cost-of-living pressures.

Daniel Quinn, owner of Mexican restaurant Baja in Fortitude Valley, said the evolution of Brisbane’s hospitality sector had benefited operators, but he expressed concern a major influx of new venues was unsustainable.

His business’ power bill was more than three times more expensive than when Baja launched about five years ago while, more recently, the operator grappled with the city’s winter downturn.

“I don’t know if you want to see 50 venues in one area,” Mr Quinn said. “I just don’t know how sustainable that is, but as far as the new unique venues popping up around the city and in the laneways, I’m all for that.

“We’re up for the challenge, but it’s definitely hard.”

On the other side of the city, Bar Rosa and Bar Brutus owner Stefan Angelovski expected the opening of Queen’s Wharf to be a shock to the industry as consumers tighten their spending.

He said he feared the new development may draw crowds over the river and away from South Bank, with the increased competition potentially being the final nail in the coffin for some operators.

“A lot of businesses are going to close,” Mr Angelovski said.

“Everybody that’s on the edge is going to suffer because two bad months can be enough to pull you over [into collapse].”

Business Chamber Queensland chief executive Heidi Cooper said major developments such as Queen’s Wharf served as a tourism draw and complement existing businesses.

“We’re really excited about this significant economic investment in our city and the long-term benefits it will bring to Brisbane and Queensland,” she said.

“Queen’s Wharf is an example of the growth opportunity in Brisbane and sets the standard for business investment in the city.”

Ms Cooper said the concern, which was shared by both Mr Quinn and Mr Angelovski, was the access to a workforce to support the growth in business.

“Workforce is the number one issue raised with us by Queensland businesses,” she said.

“Businesses of all sizes are seeking qualified and attainable staff to meet their commercial needs.”