When the Brisbane River flooded last January, the resulting chaos caused huge damage to the Brisbane River and washed many yachts and fixed structures downstream.
Now a yacht has been located still on the bed of the Brisbane River, just where authorities want to erect a new Riverwalk.
The yacht is believed to be owned by one of two men who had to be dramatically rescued while they were trying to rescue their vessel.
The yacht was originally moored at Gardens Point, near Queensland University of Technology and sank live on television in front of the Riverside ferry terminal during January's floods.
It had drifted downstream almost a kilometre and is in about 12 to 13 metres of water.
A hydrographic survey received by Brisbane City Council clearly shows the image of the single-masted yacht resting on its side on the bed of the New Farm stretch of the river.
The council has confirmed to the Brisbane Times that Maritime Safety Queensland had tried to contact the boat's owner unsuccessfully.
It is understood the Brisbane City Council is very concerned that the sunken yacht will easily break into pieces during a flood or a tropical storm and become 'unsecured debris', which could damage nearby infrastructure including the new Riverwalk.
The council wants Maritime Safety Queensland to organise the removal of the sunken yacht near the planned $70 million Riverwalk project.
Work on Riverwalk is due to begin in March 2013 and be finished in July 2014.