QUEENSLAND, AUSTRALIA—One of Australia’s most iconic Great Barrier Reef islands, Great Keppel Island, is the focus of a search for investors to capitalize on the largest development approval ever secured in the area, including the country’s only island casino zoning.
The campaign to seek partners for the $1.87 billion ($AUD2B) project is spearheaded by golfing giant Greg Norman, who has designed a championship 18 hole course on the island. He was in Queensland this week to reveal the fully approved, multi-faceted luxury tourism and villa development plans.
With Norman’s Great White Shark Enterprises, global agents JLL have been engaged to source international investors and the prominent investment bank, Moelis & Company, has been engaged as lead financial advisor to the project.
Together, these three groups will champion the opportunity for investors to buy into the iconic project which is the largest and possibly last of its kind on the world heritage listed Great Barrier Reef. Initial interest has already been fielded with a formal investment campaign expected to roll out internationally next month.
Great Keppel is one of the Reef’s most accessible islands – more than twice the size of popular Hamilton Island and just a 50 minute flight from the Queensland capital Brisbane. The integrated resort development boasts government support for the delivery of 700 luxury villas, 350 luxury apartments, a five-star golf course, beachfront hotel, marina, airstrip and retail village.
Its magnificent setting includes 17 pristine whites beaches, a tropical reef climate and natural habitat in a marine park listed as one of the seven natural wonders of the world.
Owner, Tower Holdings CEO Terry Agnew said the campaign was being launched at a time when Australia was supporting renewed investment in 5 star tourism product to meet the demands and expectations from the booming Asian travel market.