The sale of the building to the Melbourne developers was confirmed at the May council meeting following what Mayor Kristy McBain called a “long process”.

Irisha Rubycove previously outlined a proposed revitalisation of the site as a five-star hotel, with a function room, accommodation, bar, swimming pool and street cafe among added attractions.

Project manager Simon Petzierides said the proposal remains much the same with the intention to create a landmark worthy of international fame via cruise ship visitors and a “go-to location” for local patrons.

“It’s all systems go, we’re very excited,” Mr Petzierides told the Magnet on Wednesday.

“Council has been fantastic and very diligent. We’ll be taking a mudmap to council at our next meeting to outline plans for a five-star hotel and the urban streetscape.

“Once we have council feedback and we’re both satisfied, we’d love to open it up for everyone to look at. We want this to be an open forum.”

Mr Petzierides said the development will offer significant opportunities for employment in Eden, both through the building and redevelopment phase as well as ongoing operation of the hotel and linked businesses.

“Ultimately we’re interested in offering opportunities for the community through cafes, a restaurant, specialty outlets...whichever path we end up going down,” Mr Petzierides said.

“It should be a go-to location, not just for cruise visitors but for locals as well.”

Meanwhile, councillor Robyn Bain said the sale of the iconic building, with particular covenants relating to restoration of the historic facade and use of the laneway, was a good result for everyone.

“I’m not a judge or juror on what a private developer does with their building, but this appears to be a good solution for all,” she said.

“It’s a psychological thing for Eden to be able to move on from Hotel Australasia – it’s people thinking either it’s in the past, let’s move on, or it’s in the past, let’s keep it as is.

“People just want it to do something. My point was and still is, it shouldn’t be the ratepayers to pay for it.

“Eden can move on and that’s what we all want. I think Eden in another four years will have a very different feel.

“With the foreshore development, the cruise ship wharf, the marina – it’s not hard to count up $50-60million being invested, by the state government mostly.

“Not too many towns in NSW can say they have kind of investment. It’s very promising.”