Billionaire Walker Wins On Queensland's Waterfront

Billionaire Lang Walker has won the right to develop a key waterfront site in Queensland owned by state and local governments with a value of more than $1 billion.

Walker Corporation was selected as the preferred development partner with the Newman government and Redland City Council for the transformation of 109 hectares of prime Moreton Bay waterfront land.

“The government here in Queensland are a little bit more conscious of getting development kick-started,” Mr Walker said.

“If the government keep the development approval processing going as normal we could be breaking ground here mid next year.”

The prime waterfront land is subject to the rules of what is called a “priority development area”.

The expectation is that the land will be developed for up to 1200 dwellings as well as commercial and retail space and marinas with up to 250 berths.

The land holdings, split into two, include Toondah Harbour and Weinam Creek.

Mr Walker said he was particularly attracted to the sites because they had already gone passed the community consultation phase.

State Member for Redlands Peter Dowling said government and council listened to the community and worked to ensure public open space was protected and improved.

Walker Corporation - which is currently undertaking a waterfront development in Johor, Malaysia, with a potential end value of $5 billion - beat seven other bidders for the Redlands development.

Mr Walker said he thought his reputation for developing waterfronts in Malaysia and Sanctuary Cove on the Gold Coast, as well as the King Street Wharf in Sydney, had a major part to play in his being selected.