Top-tier contractors Multiplex and Hutchinson Builders are competing for one of Australia’s largest ever private construction contracts — the “city shaping” Queen’s Wharf contract worth up to $1.5 billion.
Billed as Queensland’s largest private single development, the $3.9 billion Queen’s Wharf will take up 20 per cent of Brisbane’s CBD — 27.3 hectares — and feature a purpose-built casino, pedestrian bridge and entertainment precinct.
The construction contract, worth between $1.3 billion and $1.5 billion, is for the development of the integrated-resort component of Queen’s Wharf and excludes the 630-apartment residential tower.
Probuild was awarded the tender for the basement and excavation works, which 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 the construction of The Rosewood Hotel and The Dorsett Hotel.
The project, approved last year, is being developed by the Destination Brisbane Consortium. Casino giant Star has a 50 per cent equity share in the consortium alongside Far East Consortium (25%) and Chow Tai Fook Enterprises (25%).
Hutchinson and Multiplex are working through the complicated tender, which is lump-sum with at least 60 per cent of the project costs to be executed under the construction contract.
In its half yearly results, Star said it was targeting a total $2.4 billion total project cost and that the winning contractor will be announced in the fourth quarter. Industry sources observed it could be announced as early as April.
The residential component of up to 2000-plus apartments are scheduled to come to market in the middle of the year.
The Urban Developer reached out to Multiplex and Hutchinson Builders separately, both declined to comment.
