The development, which incorporates the Heritage listed Collins Place building, will include three separate structures on the 0.85 hectare parcel of land.
A 20-storey building on the corner of Grey Street and Tribune Street will include a five-star hotel and 210 apartments.
The Emporium Hotel, Southpoint will include 132 rooms as well as a day spa, gymnasium, boutique conferencing facilities, restaurants and bars.
A 17-storey building at the centre of the site will consist of 2 storeys of retail including a full-range supermarket and 15 storeys of commercial offices. The upper level of the retail component will offer direct connection to the rail platform.
A third 24-storey building, on the corner of Vulture and Grey Streets will comprise 248 one, two and three bedroom apartments.
The development will be constructed in separate stages to meet the anticipated early demand for both the residential and commercial components.
South Point will bring a diverse range of new audiences to South Bank for both work and play and it will help to cement Grey Street as one of the great streets in Brisbane.