THE DUNES, PORT HUGHES

Mr GRIFFITHS (Goyder) (16:23): I want to talk about The Dunes development and the announcement today, which was part of question time. The Copper Coast is a great region of South Australia. Indeed, its population projection is something like 2.5 per cent in forward years. Its rate of growth has been wonderful compared with many parts of South Australia, and its future is also a very bright one.

The news today, though, that The Dunes development, which in its concept was contemplated to be some 2,000 allotments and a golf course of championship-style 18 holes, has gone into receivership is of great concern to me and, indeed, anyone else who is involved in the Yorke region or has developments and interests in that place. The development was officially declared to the public in about mid-2007 with great fanfare, with a special event being held. Greg Norman, the designer of the course, was in attendance, and the former member for Port Adelaide was also there, with his economic development focus at that time.

The development is truly the vision of Mr Peter Butterly, who has been involved in a lot of other subdivisions in the Copper Coast area which have created opportunities for many thousands of people who live in the region. He is an Irishman who has come to love the region in the last 10 years or so that he has been there. He has invested significant capital from his own funds, and he has done many subdivisions. He had this grand vision of an absolutely top quality development to be developed there, and he has done all that he can to ensure that it happens.

As has occurred with many other civil construction projects and land divisions, the dilemma is the difficulty of selling allotments. Of the eventual vision of 2,000 allotments for the property, according to reports in the online edition of The Advertiser at the moment, some 185 blocks have been developed so far. One hundred of those blocks have been sold and some 60 homes either have been built or are in the process of being built.

The Leader of the Opposition was with me on the site in February of last year. Even two months ago, the Economic and Finance Committee (of which you, Mr Acting Speaker, are chair) heard from the people involved in the project about the relatively poor level of sales in recent times. We gathered from them the commitment to still proceed with the development and make it the absolute best that it can be.

I am concerned about the people who may be exposed in this project in any way. There are many local builders who are involved in the project. I have spoken to a civil contractor who has done a lot of work in that area in the past who has a level of exposure of frightening proportions. I am hopeful that the development will not be stopped, because it is important. The number of people who work on the site provide a great economic impetus to the area. It is declared as having some $13 million in debt at the moment. In reading the reports from Ferrier Hodgson who have been appointed as receivers, they are quoted as saying that it is 'business as usual' with 'exciting opportunities to purchase land in the future'.

This news has come as a shock to the people in the region that I have spoken to. Immediately upon being advised about this I contacted Mayor Paul Thomas, who has done wonderful things on the Copper Coast during the time that he has been mayor. Mayor Paul was not aware of this development even though he, like I, had some concerns given the slow sales figures.

Mayor Paul has been around long enough to have seen the Wallaroo marina also go through some challenging times, even though in a very different way it was on-sold by two previous developers until the final person came on board and has fully developed it and sold the absolute majority of that, and that is wonderful development for the area, too.

Collectively, I am very hopeful that this receivership appointment will not be to the detriment of the development. I want it to happen. It is a wonderful golf course for those who are interested in it. An enormous amount of money has been spent. There are grand visions for what is going to occur there; there is a restaurant already there. You are able to play with professionals. They have events there quite often.

They have a lot of community open days to encourage the local residents to go there and play golf, too, and to see what the facility is like. Anyone is able to enter it at any time. I hope that in the coming days we are able to ascertain a bit more information about the financial difficulties there, and I offer my best wishes to Mr Butterly in the hope that he is able to get some returns out of this, that the people who have invested money in it do not lose any funds and that the full return will come back to those who have shown vision, courage and commitment to the Copper Coast region and invested in The Dunes so far.