HEDLEY’S BUILDING BLOCKS
Unit project signals return of high-flyer after GFC collapse
FORMER construction mogul Tom Hedley (left) is back in the development game.
Despite the spectacular collapse of his empire in 2009, the pub owner has revealed plans for an apartment project in the Cairns CBD.
FORMER high-profile developer Tom Hedley is back with his first Cairns apartment block project since his extensive property and pub empire’s collapse in 2009.
The former plumber, who shot to riches but later fell quickly, is quietly dipping his toes back into mid-level developments with a 16-unit apartment complex in McLeod St the first project on the books.
“Barramundi Tom”, so nicknamed for his reputation as a hard-fighting negotiator, is keeping out of the limelight and delegating calls from the
Cairns Post to development manager Andrew Derrington.
“He’s definitely getting involved,” Mr Derrington said.
“He’s very hands-on with the product that we’re looking to put out in the marketplace.
“Obviously, he’s got a distinct style in terms of having open spaces and tailoring it to the Northern Australian lifestyle.”
Mr Hedley will oversee the project under the banner of development company Group 1, registered in June last year.
An ASIC company search reveals Mr Hedley, who is listed as living near Victorian city Bendigo, shares directorship with business partner Bruce McDonald, who also serves alongside Mr Hedley on the Cairns Jockey Club committee.
He is also director of the Red Beret Hotel at Redlynch, sharing directorship with Jeanine Cooke, also a Cairns Jockey Club committee member.
Group 1 has other developments planned for Cairns, but Mr Derrington was keeping quiet about them for now.
“That’s the entity taking the pathway, putting these development types on the market,” he said. “This is the first one back in Cairns we’re working on under the Group 1 banner.
“We do (have more in the pipeline), but I can’t tell you too much about those ones at this stage.”
The five-level McLeod St apartments would be built on vacant land about 500m from Cairns Central Shopping Centre, with a mixture of three and four-bedroom apartments.
Mr Derrington said it would feature a communal outdoor barbecue area.
“There is a lot of emphasis on the design, making sure it’s got passive cross-flows and good storage and large alfresco areas and all the parking is obviously Q100,” he said.
“I imagine there will be a fair bit of investment interest in it as well.”
Cairns Regional Council is yet to tick off the application.