It follows a series of failures at Keppel over 18 years, including Gina Rinehart’s plan for a Mediterranean-style resort for the uber rich. There was even a scheme involving a Greg Norman-designed golf course and 250-room hotel and 750 eco villas.

There was even a bizarre scheme to develop the island with crytpo-currency into a $300 million “high-tech wonderland”.

Ultimately, Tower Holdings was forced to hand back the leases it had held since 2006 because it owed the Government about $800,000 in rent.

That followed an edict from the Government to the industry to use-it-or-lose-it over several island resorts that had fallen into disrepair. Double Island is another case where the owner, Hong Kong’s Billy Wu, is facing forfeiture action.

The State Government today released a draft master plan for the island which included smaller lots, which may allow quicker development. It also includes options for an eco resort and a village centre and there would be potential for a jetty or barge ramp as well cultural and nature-based activities.

The draft plan states that it would ensure “low-scale” development. Most development would be on the western side of the island with the eastern coast developed with a “light touch”, including a potential eco resort.

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The Government said an alternative form of development on the island required consideration. After engagement with the local community the low-scale, eco-friendly option emerged.

The draft plan outlines the key infrastructure needed to uplift visitor facilities and amenities, improve the island’s appearance, safety and sustainability, and boost tourism. About $30 million has been committed for common-user infrastructure.

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The Government said it was asking for feedback over the next six weeks which would be used to shape the final master plan, due to be completed in late 2023.

Acting Premier Steven Miles said Great Keppel Island was a hidden treasure with the potential to deliver huge economic benefits for central Queensland.

“People want to see Woppa-Great Keppel Island celebrated for its wonderful natural environment and deep cultural heritage,” he said.

“It’s a very large and detailed plan … now it’s back over to the community.

“We are committed to its redevelopment, so this unique piece of nature within the Great Barrier Reef can be enhanced and appreciated for generations to come,” he said.

“This master plan will be our blueprint to breathe new life into the jewel of the Capricorn Coast and make this one of the biggest tourism drawcards in Australia.

“It outlines options for new tourism developments and priority infrastructure needed to restore the island to its former glory and attract domestic and international visitors.”

Labor MP for Keppel Brittany Lauga said that making the island safer and more accessible was a key focus, as was celebrating its natural beauty and history through eco-friendly and sustainable development.

“This master plan will help build the certainty and confidence that the community, tourism operators and other businesses need to thrive.

“The recent return of the old resort leases to the Queensland Government opens new opportunities to redevelop GKI and we’ll be making the most of them.

“This project is set to bring private sector investment back to the region and unlock new economic opportunities.

“Importantly, it will support construction and tourism jobs in Central Queensland, with flow-on benefits across the supply chain.

“We have worked closely with the whole community to reach this point, with a master plan that reflects the community’s aspirations for the island’s future.

“I thank the residents and stakeholders who have shared their ideas and contributed to this shared vision.

“Community voices are vital in this process to ensure we preserve the island’s rich history, cultural values and keep the core characteristics that make it so special.

“Today we have taken another step towards GKI’s next chapter as a world-class tourism destination and celebrated piece of local paradise.”