The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
HotelStaff WriterSat 09 Sep 17

Village Roadshow Puts Prime Theme Park Land on the Market

Village-Roadshow-Gold-Coast-land-opportunity_620x380

Village Roadshow's Theme Parks division has announced its sale and long term leaseback intentions for 154 hectares on the Gold Coast which currently holds well-known theme park facilities.

The site includes the land on which Warner Bros. Movie World, Wet’n’Wild Gold Coast, Paradise Country, Australian Outback Spectacular, and Village Roadshow Studios are located. In addition, Australia’s first Topgolf venue is under construction at the site, and development approval is in place for a nine storey hotel.

The landholding offers direct Pacific Motorway access and visibility, and is situated approximately 20 kilometres from Surfers Paradise and 50 kilometres from Brisbane.

The site is being sold by Colliers International through an international expressions of interest campaign and will be marketed nationally and throughout Asia. International expressions of interest close on 26 October 2017, with a sale expected to be completed by the end of the year.

The proceeds of the sale will initially be used to reduce VRL’s debt levels, while allowing VRL to progress its previously announced growth strategies.

Village Roadshow chief executive Clark Kirby said the sale and leaseback will unlock the value in these land assets, allowing VRL to pay down debt and free up capital for growth initiatives such as Topgolf.

“We are committed to our Theme Parks business, with the DC Rivals HyperCoaster, the longest, highest and fastest rollercoaster in the Southern Hemisphere opening soon at Warner Bros. Movie World, and Topgolf under construction," he said.

Colliers International Managing Director Capital Markets John Marasco said interest was expected from institutions, trusts and high net worth individuals worldwide, and offers were expected in the region of $100 million.

“Village Roadshow Theme Parks is Australia’s leading theme park developer and owner," Marasco said.

"This is evident as their parks and attractions draw over five million local and overseas visitors annually.

“The offer is for a substantial landholding with an experienced operator in the midst of strong underlying economic, population and tourist growth projections for the region."The site will generate $6.2 million from next year, with a 30 year initial term. Annual rent review increases are three per cent with six further terms of 10 years' each, totalling 90 years.

 

RetailAustraliaFinanceReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
View All >
Sponsored

Rare Coastal Development Opportunity in Heart of Mooloolaba

Partner Content
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
The sector’s productivity has slumped and it’s costing the nation. But has the industry been looking in the wrong place …
LATEST
Development

Rare Coastal Development Opportunity in Heart of Mooloolaba

Partner Content
2 Min
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
3 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Markets

Private Credit’s Biggest Risk in Expansion: Sameer Chopra

Taryn Paris
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/village-roadshow-puts-prime-theme-park-land-on-market