Great Keppel Island development opens Expression of Interest
Tower Holdings, owners of Great Keppel Island, has opened their expression of interest period until June 26 formally inviting interest from global investors to partner in the multi-faceted resort and luxury villa development.
The opportunity is the largest fully approved tourism infrastructure project currently in Australia and likely to be the only one of its kind ever approved in the World Heritage listed Great Barrier Reef. Not only is it an iconic trophy island, its plans are exemplary both environmentally and fiscally. The project feasibility studies indicate significant financial returns from the Project, which carries an estimated completion value of approximately $2 billion.
Ben Wong of Moelis & Co, financial advisor to Tower Holdings said the project differentiated from many other resort developments in Australia, given the most significant component of the project was the development of luxury villas and apartments. “The Great Keppel Island opportunity represents a unique real estate development play with substantial financial returns being generated through residential sales. This provides diversification from the tourism market and underpins the financial viability of the Project,” he said.
An international investment campaign is focusing on the rarity of such a gem on the Great Barrier Reef, with 17 pristine white beaches, fringed by coral reefs and so easily accessible to major tourism markets through a one hour flight from Brisbane or two hours from Sydney to the island’s own commercial jet airport.
State and federal development approvals have now been secured after an eight-year approvals process for a new 250 room five-star beachfront resort, Greg Norman designed 18-hole championship golf course, 700 luxury villas and 300 luxury apartments, as well as a 250 berth marina, retail precinct and zoning for a casino – the only one on an island in Queensland.
Greg Norman’s own Great White Shark Enterprises will champion the project to investors, alongside advisors Moelis & Co and agents JLL.
