The media was yesterday shown through the the $11 million building site, which will be ready to open its doors in early June.

"The hard work is behind us now. All structural work has be done. All there is to do is fitting off things like handrails and electrical fittings," company director Richard Nicholson said.

The popular tourist attraction closed for the upgrade in October 2006 and has faced ongoing delays in re-opening the facility.

Hepburn Springs tourist operators have criticised Major Projects Victoria, saying it needed to be upfront about the delays and provide more progress updates.

But Mr Nicholson said people could now allow themselves to be excited about the project, with any further delays ruled out.

"It's a shame a lot of the hype has taken the focus away from the uniqueness of the project," Mr Nicholson said.

"It's not a four-walls-and-a-roof-type of project. It's a world class facility that's going to be here for a very long time.

"We're hoping it will work out the same way as Federation Square. That was criticised for being well behind schedule, but no-one remembers that now, everyone loves the place," he said.

Mr Nicholson said an accelerated work program during January and February had resulted in significant progress at the site.

Contractors have worked overtime and on public holidays to fast track progress.

Mr Nicholson said the project's uniqueness had caused a shortage of rare building materials and many parts had been sourced from overseas.

He said builders were forced to call on European companies for help with construction because of the building's intricate design.

"The time difference made things difficult. We would be chasing somebody on the other side of the world to speak to, but would have to wait for at least 12 hours before they'd get back to us," Mr Nicholson said.

The bathhouse is a key element of Spa Country's tourism industry. It supports 2200 jobs and generates more than $262 million annually.

A new lessee for the bathhouse will be announced within weeks.

The appointment was supposed to be finalised in July last year, but was delayed because of a Department of Sustainability and Environment administrative error.

The State Government contributed $8 million to redevelopment, the remaining $2.6 million was chipped in by Hepburn Shire Council, Department of Sustainability and Environment, the Victorian Mineral Water Committee,

the Sustainable Energy Authority of Victoria and the Federal Government.