A PVC pipe under a bus stop seat that closed Ann Street for almost two hours on Tuesday morning contained a knife, fork and spoon, according to police.

The suspicious device was found by a member of the public about 9.50am, prompting police to set up an exclusion zone along the inner-city street between Albert Street and Edward Street.

Police have cordoned off Ann Street in the Brisbane CBD after reports of a suspicious device. Credit:Danielle Cronin/Fairfax Media

Inspector Steve Flori said the bomb squad X-rayed the pipe and found the cutlery inside about 11.30am, leading to them declaring it safe.

"In the current environment with the terrorist threat level being probable, we can’t afford to take any chances," he said.