Walter Construction Group have exclusively appointed Jones Lang LaSalle and Jones Lang LaSalle Hotels to formally offer for sale…
Walter Construction Group have exclusively appointed
Covering a massive area of approximately 1.5 hectares, the site features absolute water frontage on two sides and forms the centrepiece of the $100 million redevelopment currently being undertaken by both the Cairns Port Authority and the Cairns City Council of the waterfront area. When completed the surrounding precinct will feature a new international cruise ship terminal, new and improved reef fleet berth facilities, a non tidal swimming lagoon and extensive water front boardwalks linking the Pier with the rest of the waterfront.
Mr Simon Rooney, National Retail Director of Jones Lang LaSalle said the centre operated in a niche market catering to both tourists and locals alike. The retail centre is approximately 21,500 m2 in size and features 85 tenants including a number of national retailers such as Esprit, Australian Geographic and Country Road to name a few.
Jones Lang LaSalle Hotels` Executive Vice President, Mr Mike Batchelor said the 5 star Radisson Plaza Hotel was one of Far North Queensland`s best performing hotels consistently trading at approximately 80% occupancy.
He said From an investment perspective there was interest starting to be shown again in the far north Queensland region following the announcement of Australian Airlines and their direct flights to and from six Asian cities commencing in October 2002. This timed with the completion of the first stages of the redevelopment of the Esplanade and waterfront areas into a world class tourist, leisure, retail and boating precinct have once again heightened the awareness of what has always been one of Australia`s Premier Tourist destinations.
Mr Batchelor said It was for this reason Walter Construction Group, whose core business is construction, had decided to capitalise on the activity and offer the complex for sale.
The complex is being offered for sale by expression of interest closing mid October 2002.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
