Real Estate Agents of the Gold Coast Provide a New Site Offer for AU$3-billion for Casino Resort

Australia Casinos » Casino News » Real Estate Agents of the Gold Coast Provide a New Site Offer for AU$3-billion for Casino Resort

An alternative location for the Gold Coast Integrated Resort has been proposed by a Gold Coast real estate agent. The latest news is that the AU$3-billion Resort will be built by Chinese-backed investor group, the ASF Consortium, at the Southport Spit.

A resident and estate agent to the Gold Coast, Peter Bonenti expresses his concern of the casino resort facing many challenges, with its site. With the concept of hundreds of millions of dollars being flung about, he also stated that the construction of the infrastructure necessary could be rather costly. Another concern of Bonenti was that the Spit prohibits the building of any structures higher than three floors. This means that special permission will need to be granted to the ASF Consortium, so that they will be allowed to build the planned five towers of the integrated resort.

Mr. Bonenti further claims that money and efforts will be spared, if they reach an agreement to change the location of this casino resort. The suggested relocation of the resort is Broadwater Tourist Park, which can be found just across from the Southport Spit, their original location.

The Broadwater Tourist Park, is situated near a key state route. This, along with its existing infrastructure, will be very beneficial as costs will be less and the building process will be easier, this according to Bonenti.

The Broadwater Tourist Park site, boasts an 8.2-hectare land mass, with ownership of the site being shared equally between the city council and the Queensland government.

ASF Consortium, Casino resort

Proposal of a new location gains support

The Southport councillor, Dawn Crichlow has voiced his support. He stated that a new site, closely orientated to the original site could assist by firstly easing the minds of competitors of the project. Secondly, by avoiding any other challenges that the developer may face.

The Investor group is not biting the bait.

Although there seems to be great support to relocate the project, it has been reported that the ASF Consortium has not been as welcoming to the proposed relocation. Local media reports that the investor group is not willing to surrender its latest plan and move the location of its resort for what is, in essence, the fourth time now.

Years ago, Queensland caught the interest of developers. Initially, the ASF Consortium wished to build an integrated resort costing over AU$7-billion, on Wavebreak Island, with a cruise ship terminal. The proposition, however, was scrapped soon after due to heavy criticism by environmentalist groups.

After that, the ASF Consortium sought out another location in Doug Jennings Park, but this too was declined as the government of Queensland prohibited opportunities of development within that area.

The site that was most recently selected was that of the Sea World marina park and the Palazzo Versace hotel based on the Southport Spit. The Chinese-backed group argued that this location provides countless development opportunities as its ability to annually attract tourists by the millions, to the Queensland Gold Coast.

Hanging in the balance

The ASF Consortium is now hanging in the balance, while they anxiously wait for the final approval to proceed with construction, from the Queensland government. On Friday, the project concluded, through a public consultation period. State officials are now sourcing and collecting information to determine as to whether or not this colossal project is necessary for the region of the Gold Coast.