Kangaroo Bay: $80m plans still on the table, talks begin new uni

The stalled plans for an $80m proposal at Kangaroo Bay could be closer to becoming a reality as a Melbourne university enters discussions. WHAT’S NEXT? >>

After the University of Tasmania pulled out of the Kangaroo Bay development, it’s been revealed another educational institution has entered discussions about the site, as the company behind the proposal sticks to its plan.

Chinese company Chambroad proposed an $80m development for a five-star hotel and a hospitality school at the Kangaroo Bay site.

UTAS had planned to run the hospitality school, but in May last year it pulled out of the proposal, citing the impacts of Covid as the reason for the decision.

In June, Chambroad presented the council with a range of options to move forward, including that the company go ahead with the project in some form, negotiate a commercial settlement with council for the land, or as a last resort, proceed with the project as planned without securing an education provider.

On Monday an update from Chambroad was tabled at the Clarence Council meeting, detailing progress since the last meeting in November last year.

The company said it had conducted a due diligence process with a Tasmanian investment group which was interested in acquiring the site on a “where is, as is” basis.

“The investment group has funding available to execute the development,” A Chambroad spokesperson said in the update.

“It conducted independent and detailed financial modelling, legal review and planning

assessments.”

The possibility of an alternative education provider stepping up to manage the hospitality school is also on the table, the company revealing, revealing it’s engaged in discussions with senior executives at a Melbourne university about possible interest in the Kangaroo Bay facilities and educational opportunities.

There could also be interest in operating the hotel development after Chambroad approached multiple international hotel groups.

Clarence City Council aldermen Heather Chong. Picture: LUKE BOWDEN

The company is now tasked with creating a shortlist of potential groups and engaging in further discussions.

Chambroad said it was supportive of Bellerive Yacht Club to pursue and an agreed design for the marina.

“We thank Chambroad representatives for their project update and look forward to hearing more at the next update in June,” acting mayor Heather Chong said.

“Council remains committed to seeing the project progress in its approved form.”

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