Where Great Keppel Island stands after Tower-Rinehart agreement
Queensland government departments shed light on where Rinehart’s GKI proposal stands.
Rockhampton
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The company directed by Gina Rinehart has dipped its toe into the waters of Great Keppel Island, announcing at the weekend that it aimed to take over Tower Holdings’ resort project, although it has made no formal application for the island leases.
It is believed Ms Rinehart toured GKI in mid-July during the 2021 Country on Keppel festival.
According to Noosa Today, in early August she attended a meeting, as did Nationals Leader and Deputy Prime Minister Barnaby Joyce, organised by LNP Noosa chair and Altum Property Group manager Leigh McCready to do with fundraising for a Wide Bay MP’s election campaign.
The meeting was held at Parkridge Noosa, which was built by Altum, the previous prospective Great Keppel Island developer.
Ms Rinehart’s company Hancock Prospecting on Saturday announced it had “entered into an agreement to potentially acquire the Great Keppel Island development project from Tower Holdings, subject to a myriad of state and local government approval”.
It said it hoped to give GKI a “world class year round beach club, sandy bars, shopping, and more experiences circling around a marina modelled after successful marinas like Puerto Banus”, as well as an underwater bar.
The transfer of leases from Tower to Hancock would require the approval of the Resources Department following an independent financial and managerial capability assessment, and any development would need to abide by current government approvals.
A Resources Department spokesperson on Sunday said no application had yet been made to have the leases transferred.
Hancock added in regard to development that “whilst a number of primary approvals are in place, there are also further approvals that require substantial work prior to any construction being considered”.
“Work will commence on these areas, which will require expenditure before confirming this exciting project can proceed,” it said.
Hancock republished on its own website an article from The Australian that said Ms Rinehart would pay Tower $50 million as part of their agreement.
A Tourism Department spokesperson said the department “looks forward to learning more about the proponent’s interest in the island’s resort site”, but did not say whether Hancock Prospecting had been in touch with the department prior to its announcement.
“The Queensland government stands behind its commitment to almost $30 million for improvements toward common-user infrastructure to boost tourism on Great Keppel Island,” he said.
“The government is continuing to work with local stakeholders on developing a masterplan for the island that looks at options for new tourism development”.
Livingstone Shire Council Mayor Andy Ireland said he knew “as much as anybody else” about Hancock’s proposal and that council was not involved.
Keppel MP Brittany Lauga, Capricorn Enterprise CEO Mary Carroll, and GKI business owners Gerry Christie of Island Pizza and Kelly Harris of Great Keppel Island Hideaway and Keppel Konnections have been contacted for comment about the proposal.
Tropical Vibes owner Shane Bonney did not wish to comment, and neither did Woppaburra elder Aunty Glenice Croft.
Tower Holdings said it was unable to speak about the agreement.
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