In my office we say that Watermark is short for Water mark-up. Extremely overpriced, you are paying for the view of the lake (which is actually quite nice to be fair). The food is pretty bland and the menu is boring. The Cardinal sin they commit though is serving 14oz glasses of beer at very close to pint prices. Skip this place and walk a little bit further west on queens quay for some (slightly) better options. Unfortunately it seems restaurants/bars think the view of the water exempts them from maintaining quality.