Trump Tower Plans Scrapped in Queensland Over Toxic Brand and Iran War

Plans for a A$1.5 billion ($1.1 billion; £802 million) Trump Tower in Queensland have collapsed, with the Australian developer pointing to the "toxic" Trump brand and the Iran war as reasons for the project's end.

The announcement came just three months after the deal was revealed. Developers had touted the 91-story luxury hotel on the Gold Coast as Australia's tallest building at 335 meters (1,100 feet), surpassing London's Shard.

Project details have vanished from the Trump Organization's website. A spokesperson said the developer failed to meet its obligations.

"Let's just say that with the Iran war and everything else, the Trump brand was increasingly toxic in Australia," David Young, chief executive of Altus Property Group, said in a statement. "Some time ago we knew it was time to part company. It was not about not meeting obligations. There are other luxury brand options for us. The project is live."

A Trump Organization spokeswoman said the company had been "very excited" about the project but depended on its licensing partner fulfilling certain obligations.

"After months of negotiations and empty promise, after empty promise, on a supposed $1.5 billion project, Altus Property Group was unable to meet the most basic financial obligation due upon the execution of the agreement," Kimberly Benza, director of executive operations for the Trump Organization, said. "Mr Young's attempt to blame certain world events for our termination of the agreement is merely a ploy to distract from his own defaults and failures."

She added that the company looked forward to "exploring other potential projects and bringing a Trump property to Australia soon."

Gold Coast Mayor Tom Tate said the local council never received a development application for the site. He described the matter as "an agreement between two private parties."

"The Trump Organization wants a lot more for their brand on the funding side of things, to operate it and the percentage of return," Tate told the Australian Broadcasting Corporation.

Eric Trump, executive vice president of the Trump Organization and Donald Trump's second son, announced the project in February as the company's first official venture in Australia. He promised to bring "the prestige and allure of a world-class luxury brand" to the country.

Construction was set to start in August. The building would feature 285 hotel rooms, 272 luxury residential apartments, shops, restaurants and an exclusive beach club.