Although the canal was deepened to 8.2m in 1917 deep draught vessels continued to put pressure on the Port’s harbour facilities and in 1929 the construction of Spencer Street Bridge effectively closed the Queen’s Warf area to all but the smallest craft. Meanwhile work on what was to become Appleton Dock commenced at the mouth of Moonee Ponds Creek and after a number of other extensions and improvements to port facilities, while Appleton Dock was being fitted out in 1930, Station Pier was rebuilt.
A Royal visit in the early 1970’s by Queen Elizabeth II saw HMY Britannia berthed at Station Pier and since then the story for Prince's Pier has been all down hill. With both piers due for a face lift at the time Station Pier, playing host to the Royal Yacht, was spared no expense, nor was the entire route to be taken from Port Melbourne to Melbourne by the Royal entourage. Naturally a good impression was desirous so while Station Pier was completely refurbished, Prince's Pier was ignored. The next 30 years saw a continuing decline until the sorry state of affairs that currently exists with regular arson attacks, wanton vandalism and calls for it to be completely demolished.
The Beacon Cove Precinct Committee is currently finalizing its report to the Planning Minister that will form a basis for considerations regarding any future use of Prince's Pier. A number of options are on the table ranging from total demolition through various partial demolitions to full restoration. While most of the supporting piles are reportedly in good condition the pier’s deck is not and would require extensive restoration if not replacement. One option to preserve only the gatehouse and 100m beyond for development is seen by some as a viable compromise that would nevertheless cost Melbourne one of the world’s largest wooden piers. Something would seem to be amiss when an industrial and trade cornerstone of our culture must be reduced to ‘yuppie novelty’ value in order to survive at all. Preserving the best and most significant of our heritage buildings and other assets is of course paramount, but with a little more foresight we could be preserving more than just a building or a site, we could be preserving an example of our forefathers’ way of life. While providing another ‘string’ for the tourism ‘bow’ we could be recreating the way Princes Pier was in its heyday instead of simply using its carcass to complement another 21st century ‘condo colony’.