Christian Ainsworth, son of poker machine king Len Ainsworth, is planning a $40 million backpacker resort in Queensland's booming Hervey Bay.
Like Queensland property entrepreneur Kevin Seymour, Mr Ainsworth is targeting Hervey Bay, 300kilometres north of Brisbane, given its increasing attraction to tourists and as a jumping off point for the world-heritage listed Fraser Island and whale watching.
The Midwood Queensland Property Investment Report released yesterday found Hervey Bay is becoming increasingly attractive to tourists, with a 3.7 per cent rise in occupancy rates in the December 2005 quarter from the previous quarter. Room rates over that time rose 2 per cent to an average of $88.70 per night.
In a rare interview, Mr Ainsworth told The Australian Financial Review yesterday that he was keen to develop another Gilligan's Backpackers Hotel & Resort in Hervey Bay, similar to his successful Gilligan's operation in the heart of Cairns.
Mr Ainsworth's company, CJHA, acquired a prime waterfront development site from Watpac and the Seymour Group for $11.25 million.
Mr Ainsworth said he was about to lodge plans with the Hervey Bay council to develop the backpacker hostel on the 36 Hillyard Street, Pialba, site. The hostel will be large, with Mr Ainsworth planning to accommodate up to 500 guests.
Construction of the project, which is expected to include a convention centre and lagoon pool, will start as soon as approval is granted.
The hostel will be targeted at the top end of the backpacker market and provide budget accommodation for families.
Watpac and Seymour Group decided to sell the 18,000 square metre site acquired in 2004 for about $6.5 million given Watpac, Queensland's largest publicly listed construction company, holds extensive property assets in the Hervey Bay area. Watpac and Seymour Group had planned apartments for the site.
But Watpac was concentrating on the Urangan Boat Harbour Precinct Redevelopment and this was part of the reason for the sale of the Hillyard Street site, said Watpac managing director Greg Kempton.
"We are currently focusing our energy and resources in submitting an expression of interest to the Queensland government for this redevelopment initiative," MrKempton said.
"There is a much bigger opportunity for us at Urangan where we own part of the boat harbour, the marina slipway and the boat lifter. There is also potential to develop apartments." Watpac also owns the ABC site at Hervey Bay.
Mr Kempton said Hervey Bay had rapidly increased in popularity as a lucrative investment opportunity and an area of property growth after the scheduling of budget flights from southern cities by both low-cost airlines.
"Investment potential has been rapidly increasing in the region over the years and to this end Watpac continues to explore further opportunities in Hervey Bay," MrKempton said.
"A new era in property development and investment is arising and Hervey Bay is very much a part of this. Interest in Hervey Bay is increasing as parties realise the value of committing to investment and redevelopment in this region. Watpac is no exception and as we always have been, remain committed to continuing our operations there."
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Like Queensland property entrepreneur Kevin Seymour, Mr Ainsworth is targeting Hervey Bay, 300kilometres north of Brisbane, given its increasing attraction to tourists and as a jumping off point for the world-heritage listed Fraser Island and whale watching.
The Midwood Queensland Property Investment Report released yesterday found Hervey Bay is becoming increasingly attractive to tourists, with a 3.7 per cent rise in occupancy rates in the December 2005 quarter from the previous quarter. Room rates over that time rose 2 per cent to an average of $88.70 per night.
In a rare interview, Mr Ainsworth told The Australian Financial Review yesterday that he was keen to develop another Gilligan's Backpackers Hotel & Resort in Hervey Bay, similar to his successful Gilligan's operation in the heart of Cairns.
Mr Ainsworth's company, CJHA, acquired a prime waterfront development site from Watpac and the Seymour Group for $11.25 million.
Mr Ainsworth said he was about to lodge plans with the Hervey Bay council to develop the backpacker hostel on the 36 Hillyard Street, Pialba, site. The hostel will be large, with Mr Ainsworth planning to accommodate up to 500 guests.
Construction of the project, which is expected to include a convention centre and lagoon pool, will start as soon as approval is granted.
The hostel will be targeted at the top end of the backpacker market and provide budget accommodation for families.
Watpac and Seymour Group decided to sell the 18,000 square metre site acquired in 2004 for about $6.5 million given Watpac, Queensland's largest publicly listed construction company, holds extensive property assets in the Hervey Bay area. Watpac and Seymour Group had planned apartments for the site.
But Watpac was concentrating on the Urangan Boat Harbour Precinct Redevelopment and this was part of the reason for the sale of the Hillyard Street site, said Watpac managing director Greg Kempton.
"We are currently focusing our energy and resources in submitting an expression of interest to the Queensland government for this redevelopment initiative," MrKempton said.
"There is a much bigger opportunity for us at Urangan where we own part of the boat harbour, the marina slipway and the boat lifter. There is also potential to develop apartments." Watpac also owns the ABC site at Hervey Bay.
Mr Kempton said Hervey Bay had rapidly increased in popularity as a lucrative investment opportunity and an area of property growth after the scheduling of budget flights from southern cities by both low-cost airlines.
"Investment potential has been rapidly increasing in the region over the years and to this end Watpac continues to explore further opportunities in Hervey Bay," MrKempton said.
"A new era in property development and investment is arising and Hervey Bay is very much a part of this. Interest in Hervey Bay is increasing as parties realise the value of committing to investment and redevelopment in this region. Watpac is no exception and as we always have been, remain committed to continuing our operations there."
Visit our site here. Prepare to be amazed!
Email us at herveybay1@gmail.com to find out more.
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