Sunshine Coast developer Altum Property Group plans to build a multi-million dollar hotel and marina development on Central Queensland’s Great Keppel Island.
Regional development group Capricorn Enterprise confirmed the group had entered a conditional contract to commence the sale process of the leases with due diligence.
The approved development includes a new beachfront hotel, luxury apartments, luxury villas, retail shops, a marina, and a new airstrip to allow greater visitor access and direct flights from Sydney, Brisbane and Cairns.
Pat O’Driscoll from Knight Frank Rockhampton/Capricorn Coast is leading the sales process along with negotiations between the State Government, current owners Tower Holdings and Altum .
The new negotiations come after a $50 million deal with Taiwanese Wei Chao that has failed to reach completion.
Capricorn Enterprise chief executive officer Mary Carroll said she believed this was an exciting time for local jobs and growth.
“Altum are going about the due diligence process very carefully and astutely and have respectfully taken the time to meet with our local politicians including Livingstone Mayor, Bill Ludwig, State Member for Keppel, Brittany Lauga, and Federal Member for Capricornia, Michelle Landry MP to provide personal briefings,” she said.
Altum director Rob McCready described Great Keppel as the best island off the Queensland coast – with the best beaches and a fantastic climate, with half the rainfall of the northern Great Barrier Reef, and no stingers.
“We have been impressed by the support of local businesses, Livingstone Shire Council, the regional tourism organisation (Capricorn Enterprise) and the state government’s assistance to get to this point in what is a fairly complex process,” he said.