A chance to own an is­land

Whitsunday Times - - LOCAL NEWS -

START stock­pil­ing your mil­lions be­cause the chance to be­come the new owner of Keswick Is­land has ar­rived.

This week it of­fi­cially hit the mar­ket, although mar­ket­ing agency Col­lier’s In­ter­na­tional has spent the past cou­ple of months gaug­ing in­ter­est from over­seas in­vestors.

As­so­ciate di­rec­tor of Asia mar­kets Jor­dan Lee said ex­pres­sions of in­ter­est in the is­land would be open un­til Au- gust 31, but he es­ti­mated $20-$30 mil­lion would be re­quired.

This would se­cure the new owner a 117-hectare de­vel­op­ment lease with the Queens­land Gov­ern­ment un­til 2096.

Ap­provals for a 25-hectare seabed lease for a 180-berth marina and deep-wa­ter jetty have also been signed off.

Although Mr Lee es­ti­mated th­ese would cost about $100m to de­velop, he said it would be sure to of­fer a solid re­turn on in­vest­ment. The lease is cur­rently held by Keswick Devel­op­ments, a group that has in­fu­ri­ated many is­land res­i­dents for years through its failure to fol­low through with de­vel­op­ment prom­ises.

The group pur­chased the is­land in March 2008, and had promised “vil­las, con­do­mini­ums, cafes, shops, a deep-wa­ter jetty and im­proved barge ramps”.

Keswick is one of the south­ern­most Whit­sun­day is­lands.

A PIECE OF PAR­ADISE: Keswick Is­land Guest House.

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