Keppel redevelopment model to be released in New Year
A MODEL of the $600 million redevelopment on Great Keppel Island is expected to be released to the public in the New Year.
GKI project manager Anthony Aiossa confirmed Tower Holdings had sold its Northpoint complex in North Sydney for $279 million to Queensland-based, Cromwell Property Group, making way for the necessary financial commitment.
The property settlement takes place on Friday.
"The work has been going on behind the scenes to take the resort's design to the next level," Mr Aiossa said.
"We've prepared a full scale model of the island and the resort with digital renderings and plans for key components, including the Fisherman's Beach hotel, marina, golf course and villas."
Along with the models, a fully animated fly-through video will be released on the company's website in the new year.
"We've completed all the initial costings... the sale of the (Northpoint) building has been a big focus," Mr Aiossa said.
He also confirmed Tower Holdings would apply for one of two new casino licenses being offered for integrated resorts by the State Government.
Expressions of interest opened on Friday.
Tower Holdings has been liaising with the Department of Natural Resources and Mines since August to finalise lease conditions and assure long term tenure.
Mr Aiossa said an earlier report in The Australian newspaper that the Singapore Government's Investment Corporation was looking to provide finance to Tower Holdings, secured against the Northpoint complex, was completely incorrect.
"The building has been sold," he said.