This e-mail address is being protected from spambots. You need JavaScript enabled to view it

THE sale of the Kooralbyn Resort (pictured) has all but been signed off as negotiations by a private consortium, interested in redeveloping the heart of Kooralbyn, continue.

The resort, located at the centre of the town, and its facilities have remained derelict and fenced off to the public since liquidators took hold of the hotel in 2008.

Rumour spreading that the resort had already been purchased by a group of private investors is just that, rumour.

An associate of the group, who wished to remain unnamed, said negotiations were well under way but they had not been finalised.

“Our negotiations are still continuing and we’re still very much on track in terms of the development we need to do out there, but in terms of any announcement it is just a bit premature,” the spokesman said.

He said the result of final negotiations had been expected to be announced in late February, however proceedings had been delayed by about a month.

“It is not an easy deal to put together simply because of the complexity and the number of different titles,” he said.

“It hasn’t been an easy negotiation but it is still very much on track and we’re very confident we can do it.”

If negotiations are successful the consortium plans to restore the resort including the hotel and its leisure facilities to their former glory.

“All the equestrian facilities will be bought back, the golf course will be brought up to spec - we have absolutely no intention of destroying the iconic things that are already there,” the spokesman said.

“It is still happening, it is going to happen and that is the main thing, that we restore the whole property there and we build a community around it.

“It’s our intention to put in a good retail and commercial centre and residential golf course homes and residential equestrian homes and that sort of thing.”

Scenic Rim Deputy Mayor Dave Cockburn said that if the sale went ahead the redevelopment would help revitalise the township.

“Obviously (it will have a) positive impact because with any new development there are infrastructure contributions, road connection fee, all the usual contributions to the infrastructure of the local area,” he said.

“So if a new development takes place, obviously council will be looking for those contributions going forward.”

He said what some members of the community were unaware of was that the resort owned most of the open space in Kooralbyn.

“That is all part of this recent receivership issue, so when that is resolved I think we will see a better result in relation to the appearance of Kooralbyn in general,” he said.

“I am looking forward to an announcement for the future of Kooralbyn, it has been a long couple of years and a very difficult period.”