Business

Company behind $750m Brookwater Resort in receivership

An artist's impression of the entrance to the $550 million Dusit Thani Golf and Spa Resort at Brookwater. The tourism destination's future is now in jeopardy.
An artist's impression of the entrance to the $550 million Dusit Thani Golf and Spa Resort at Brookwater. The tourism destination's future is now in jeopardy. Contributed

THE company behind the proposed $750 million Dusit Thani resort at Brookwater has been placed in receivership after falling more than 12 months behind in repayments of its financing facility.

According to Financier, Myst Group, negotiations broke down with Brookwater Resort Investments and the company had no choice but to take possession of the land adjacent to the Brookwater Golf Club.

Brookwater Resort Investments had proposed a 520-apartment luxury resort in partnership with Thai resort operators Dusit Thani and just last month staged a turning of the sod ceremony.

Construction has not begun on Dusit Thani resort.
Construction has not begun on Dusit Thani resort. Contributed

Ipswich Mayor Paul Pisasale said he hoped the issue could be worked out quickly before any damage was done to the integrity of the project.

"Those who have already invested in the resort, and others looking to, want security and they will not be happy with this latest publicity," he said.

"The council remains fully supportive of the project going ahead, but it has to have solid finances behind it."
 

The $750m resort's future in now in question.
The $750m resort's future in now in question.

A Springfield Land spokesman said they were disappointed at the situation, but still hoped that Richard Turner and his creditors could resolve their issues and complete the resort.

The Myst Group said construction of the resort was still a preferred option, however proper process had to be followed to recover the financing facility.
 

Topics:  breaking brookwater dusit thani brookwater golf and spa resort



How to survive a bushfire in your car

IT SOUNDS like a nightmare, but it can happen.

Eight reasons to join the RFS

SPREAD across 93% of Queensland, the Rural Fire Service has about 36,000 volunteers. And you could be one of them.

What if my insurer gives me grief?

CLAIMING your insurance cover after a natural disaster can go one of two ways. It can be a breeze, or like pulling teeth.

POLICE: 'We don't want to lose anybody these holidays'

"Don't let your party end in tragedy".

Bay retiree saved wounded in attack on Pearl Harbour

RSL Care Baycrest resident Mary McDonald was a nurse at Pearl Harbour when the bombs dropped in.

December 7, 1941 was the day that bombs fell from the sky.

Hervey Bay develops "beyond wildest dreams"

GROWING: An arial shot of the Urraween area in 1961,where St Stephens Hospital is today.

From small, seaside town to regional hub.

Local Partners

Bay retiree saved wounded in attack on Pearl Harbour

Today is the 75th anniversary of the Battle of Pearl Harbour and it brings back heavy memories for Mary McDonald.


Man builds playground entirely out of packing tape

Artist Eric Lennartson is in the process of completing his huge tape sculpture at the Ipswich Art Gallery.

VIDEO:And here's where you can play on it.

Where to meet Santa on the Fraser Coast these holidays

Santa Claus is coming to the Fraser Coast. Four year old Jorja Dowman has been visiting Santa in the shopping centre since she was just six months old.

Don't miss your chance to tell him what's on your wishlist!

Countdown to Woodford Folk Festival begins

ECONOMIC BOON: Woodford Folk Festival is celebrating its 30th anniversary this year.  Photo Contributed

The first larger-than-life inhabitants have stepped into Woodfordia

Rogue One keeps Star Wars excitement alive

Felicity Jones in a scene from the movie Rogue One: A Star Wars Story.

GEORGE Lucas spin-off to hold fans over until Episode VIII.

MOVIE REVIEW: Bad Santa 2

Billy Bob Thornton and Brett Kelly in a scene from Bad Santa 2.

NAUGHTY Santa sequel falls flat.

Coldplay bathes Brisbane fans in sea of colour

Chris Martin, lead singer of British rock band Coldplay, performs at Suncorp Stadium in Brisbane. Coldplay are in Australia for a five-show tour. (AAP Image/Dan Peled)

Frontman Chris Martin drapes himself in Australian flag

Sia, Keith Urban top Aussie Grammy nominations

Nicole Kidman and Keith Urban at the 50th Annual Country Music Association (CMA) Awards

Beyonce dominates with nine nods for 2017 Grammy Awards

New gallery connects humanity and nature

One of Craig Parry's amazing images to be shown at the gallery.

Well known photographer to display one metre images

Hailey Baldwin: I don't understand Taylor Swift's squad

Hailey Baldwin has taken a quick stab at Taylor Swift and co.

Council opens up on 'secret' private development companies

Ipswich City Council Administration Building, South Street, Ipswich. Photo: Claudia Baxter / The Queensland Times

New website launched by Ipswich City Council

INSIDE STORY: The highlights of your $150 million CBD

GRAND PLAN: The highlights of the Ipswich CBD redevelopment and where they will be located.

Work on city heart's radical transformation to begin next year

VOTE IN OUR POLL: Sand mine opponents face serious dilemma

Public meeting for the proposed sand mine at Maroochydore last week.

Coast MP calls on Minister to stop KRA proposal with stroke of a pen

Developer's grand new multi-million dollar estate

NEW ESTATE: This is the only plan revealed by the property developer's new Billabongs Estate in Agnes Water.

DEVELOPER given the go ahead for a massive estate with 149 homes.

Couple's desperate $550K price drop to sell Gladstone home

Brian Headley and Kirstene Staib are selling their Kin Kora mansion for $750,000.

TELL tale sign of Gladstone's property market.

Ready to SELL your property?

Post Your Ad Here!