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  • Writer's pictureThe Beagle

Developer Halts Construction Of $100 Million Project In Eden

Core Assets Development Pty Ltd (CAD), the developer of the $100 million “The Sapphire of Eden” and the re-furbishment of the Australasia Hotel, has now stopped work on both projects saying Bega Valley Council officers’ bungled the various consents to allow works to continue.

In a media release issued today it is revealed that CAD has launched two separate actions in the NSW Land and Environmental Court in regard to a proposed roundabout on Imlay Street, which was already funded to the tune of $3.3 million by both State and Federal Government authorities.

The release says : "The council’s former Director of Planning has previously written to CAD stating that CAD would not need to contribute funds at any stage and, if required, carry out works in kind against Section 94 contributions.

"CAD is now seeking compensation from the council as a result of the continued delays in approvals as a result of its deceptive and misleading conduct.

"The stoppage of construction at the Australasia and the Sapphire of Eden threatens 1,043 local jobs and a major economic stimulus to the Sapphire Coast through the construction of two new major tourism hospitality locations.

Mark Toma, managing director of CAD said “We and others in the area are being continually blocked from progressing our developments through council’s misleading directions and bias, threatening the recovery in an area that needs tourism to recover from the bushfires and the pandemic.

“We will shortly stop all works in Eden and lay off some 120 contractors, consultants, construction workers and staff if urgent action is not forthcoming. Bega Mayor, Councillor Russel Fitzpatrick, General Manager Mr Anthony McMahon and the Acting Director of Planning have all been approached regarding CAD’s complaints but to date they have taken no action to resolve the problems.

“We are extremely disappointed that the local politicians are claiming they want to create jobs, yet they are missing in action when obstacles have been put in place to halt the progress of what is the area’s largest project.

“The NSW Planning Minister should investigate the obstacles thrown up by the council in our project and others in Eden, Pamula and Merimbula, totaling $180 million.

Demolition works commenced last month on the former Eden Fishermen’s Recreation Club and will continue, with any further works to be halted until the various court adjudicates.

The Australasia Hotel was expected to be re-opened in mid-2022 with restaurants, outdoor eateries and a heritage bar called” the John Hines Bar after the original builder in 1904, with two vodka and gin distilleries and outdoor theatre.

More information can be found at and


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