Pony Dining at Eagle Street Pier has served its final customers. The celebrated woodfired restaurant announced its closure on Friday via a media release. The last service was on New Year’s Eve.

“The time has come to close shop,” the media release said. “Brisbane is in the middle of a huge infrastructure boom, much of which affects trade in this area, plus the dining climate has altered, to the point that revenue dictates it’s time for final service for Pony Dining Eagle Street Pier.”

Pony’s closure was perhaps only a matter of time, with Eagle Street Pier’s long-awaited redevelopment confirmed last month after the state government approved Dexus’s $2.1 billion Waterfront Brisbane project. But trade had been dwindling at the restaurant over the past 11 months.

Owner Nick Kyprianou told the Courier-Mail that “by the end we were down by 50 per cent”.

Pony Dining’s flagship restaurant at The Rocks in Sydney is unaffected by the closure, and the group will continue to have a presence in Brisbane after the recent opening of Beaux Rumble in Ada Lane.

“We offered all those staff [from Pony] a position in the new venue,” Kyprianou told the Courier-Mail.

The Waterfront Brisbane project is scheduled to commence construction in 2021. It will mean the closure or relocation of some of Brisbane’s most iconic restaurants, including Il Centro and Cha Cha Char.