After significant delays, and a grand opening which barely didn’t happen, the lights are finally on at The Star Brisbane, Queen’s Wharf yet is anyone home to manage the $3.6bn project?
Star Entertainment’s financial woes are no secret, nor is their request for relief from investors, and Queensland and New South Wales governments. Treasurer Cameron Dick, this week, said there was no development on a possible financial lifeline from the state government, while premier Steven Miles said taxpayers should receive every cent of tax revenue promised by Star Entertainment, and expected Queenslanders on the books would keep their jobs. Do those workers really want to stay though?
Around 3,000 people have been employed, with 1,400 new roles, but it’s been said some are not happy over alleged pay inequality and poor management. News Corp has reported about 60 key staff were turning to the United Workers’ Union ahead of future protected action.
As if this isn’t enough drama, Queen’s Wharf is counter suing for millions of dollars in lost rent from a luxury retailer after shopping precinct plans fell through. This action follows a $24m lawsuit launched by that very retailer, DFS, against Queen’s Wharf owner Destination Brisbane Consortium, claiming it was forced to abandon the project due to mould and lead paint contamination.
Then there’s that show-cause notice on Star’s casino licence, deferred multiple times to December this year.
What an absolute circus.
So, the good news – a number of high-profile business events have decided to relocate to Queen’s Wharf, including the QUT Business Leaders Forum. There is also a selection of leading eateries on board, including the new Black Hide Steak House.
Have you dropped by the luxury precinct yet, and what were your thoughts? I know on Riverfire night, around the time of their initial opening of a staged launch, there was zero chance of getting inside the place because of the crowds. Which is expected, as it also aligned with a sell-out footy derby at Suncorp Stadium.
Busy or bust? Perhaps it’s almost a bit of both. Keen to know what you think…
Enjoy your weekend
Matt Lancashire
Getting better returns from your property does not always require a major renovation. Strategic low cost upgrades can significantly improve buyer appeal rental demand and resale value. Here are five smart improvement ideas that deliver real impact without overcapitalising. 1. Create strong street appeal First impressions are critical. A well … Read more
The Victorian government has proposed new laws that would require sellers and agents to publish their reserve price seven days before an auction. These proposals haven’t passed parliament yet, but if they do, they will certainly throw a cat among the pigeons. Victoria wants change because they receive thousands of … Read more