Magnetic Keys | Magnetic Quay | Magnetic Harbour

Corporate Information (1981 to 2001)

Several companies tried unsuccessfully to build a marina/canal estate development in the Great Barrier Reef Marine Park and the Queensland Marine Park at Nelly Bay. Lack of expertise, prohibitive permit restrictions, engineering problems, the collapse of the funding bank, and a determined opposition all contributed to their lack of success.

1981

SPUNBELL PTY LTD

Directors: PD Savage, JS Cox, TD Hamilton, PA Watson
In 1981 Spunbell Pty Ltd owned Bright Point, a Nelly Bay headland. The company's name was changed to Bright Point Development Pty Ltd in 1986.

1986

BRIGHT POINT DEVELOPMENT PTY LTD

Directors: GE Orpin, CJ Stout, PD Savage, MR Fabris, SS Ward
In 1986 Bright Point Development Pty Ltd still owned Bright Point.

The Bright Point property was bought by Magnetic Keys Ltd 6/8/87. After 1987 Bright Point Development had no further involvement in the project. The company was de-registered on 7 August 1989.

BAYVISTA PTY LTD

Directors: GE Orpin, CJ Stout, PD Savage, SS Ward
Bayvista Pty Ltd was granted the `Special Lease' covering 30.5ha of the Great Barrier Reef Marine Park in Nelly Bay. In order to obtain the lease Magnetic Keys Ltd took over Bayvista in August 1987. The lease reverted to the Crown in early 1992 and the company was deregistered on 10 July 1992.

NORTH BARRIER HOLDINGS PTY LTD

Directors: GE Orpin, PD Savage, SS Ward, CJ Stout, SC Kennett
North Barrier Holdings Pty Ltd raised the capital to finance the development. In 1987 Magnetic Keys Ltd acquired the project. After 1987 North Barrier Holdings had no further involvement. The company was deregistered on 20/10/1992.

1987

MAGNETIC KEYS LTD

Directors: PR McLean, ML Edwards, AF Thompson, RI Cross
These were members of the LINKON Group (deregistered 1992-1993) and ESSINGTON DEVELOPMENTS LTD (wound up 17/6/93).

1988 to 1990

MAGNETIC KEYS LTD

Directors: PR McLean, J Avram, AF Thompson, MD Cooper and DP Gibson

Pacific Properties Development Pty Ltd (subsidiary of INTERWEST) and the LINKON Group were equity partners in the Magnetic Quay project

Magnetic Keys Ltd was placed in receivership on 18 December 1990.

1994 to 1997

NELLY BAY HARBOUR PTY LTD
NELLY BAY HARBOUR DEVELOPMENTS PTY LTD

Directors: Cameron Turnbull, Kenneth Pickard, Gregory Parr

These companies had neither the financial capability nor the engineering experience to carry the project to completion, so the corporate structure was changed in June 1998, in order to safeguard the company's 'preferred developer' status.

1997 to 2001

NELLY BAY HARBOUR PTY LTD
NELLY BAY HARBOUR DEVELOPMENTS PTY LTD

Directors: Cameron Turnbull, Michael Curtain, Anthony Fraser

Shareholders: Curtain Bros (Qld) Pty Ltd, Kenneth Pickard, Gregory Parr and Cameron Turnbull.

Unitholders:

Whisky Holdings Pty Ltd – Directors: Geoff and Debra Orpin

Pamarka Pty Ltd – Directors: Linda and Marshall Pope

Kenrop Pty Ltd – Directors: Ann and Kenneth Pickard; Secretaries: Gregory Pickard and Ann Pickard

Leeturn (No. 173) Pty Ltd – Directors: Sharman and Gregory Parr

Pro Bono Investments Pty Ltd – Directors: Cameron and Ann Turnbull