Cairns QLD (Far North Queensland) Key Influences Sea Change, Transport Infrastructure, Boom Towns, Government Policy, Education-Medical Infrastructure Highlights Strong population growth; revival of tourism industry; increase in overseas flights; Chinese investment & tourism; $4 billion resort; $450 million upgrade to hospital; $1 billion airport redevelopment; $110 million port project; Bruce Highway upgrade; retail projects. Typical houses Edge Hill $458,000, Earlville $320,000, Manoora $260,000, Westcourt $321,000, Holloways Beach $372,000, Whitfield $470,000, Bayview Heights $397,000, Bungalow $335,000. Typical units Cairns City $410,000, Cairns North $229,000, Manoora $146,000, Manunda $185,000, Parramatta Park $216,000. Cairns is making an economic comeback, with spinoffs for its property market. Having been hit hard by the Global Financial Crisis, which reduced overseas tourist numbers on which the Cairns economy has largely depended, Cairns has recently shown strong signs of economic revival. In the 1980s, Cairns was one of the stars in the Australian property firmament, boosted by surging tourism and investment from Japan. Those glory days faded and Cairns was overtaken by Townsville as the most important regional city in North Queensland. However, there are plenty of positive signs that Cairns is ready to challenge again, boosted by tourism and investment from China, a proactive local council, spending on infrastructure and success in efforts to diversify the city s economy. Location Cairns is a regional city in Far North Queensland, about 1,700km north of Brisbane. It is less than an hour by boat from major sections of the Great Barrier Reef. The northern part of the city is located on Trinity Bay and the city centre is located on Trinity Inlet. The Mulgrave River and Barron River flow within the city's boundary. The city includes the Northern Beaches communities extending north along the coast. They include Machans Beach, Holloways Beach, Trinity Beach, Kewarra Beach, Clifton Beach and Palm Cove.
Population and Demographics A 2012 report from the Australian Bureau of Statistics ranked Cairns the nation s 14 th largest city and one of the fastest-growing. Cairns had grown at an average annual rate of 2.6% over the 10 years to the 2011 Census, compared with the national average of 1.5%. Cairns City has a population of 156,000 (2011 Census), up from 136,000 in 2006. Between 2001 and 2010, the annual increase in the population of the Cairns Regional Council area ranged between 2,189 (in 2010) and 5,545 (in 2006). Projections published by the Cairns Regional Council suggest it will reach 200,000 in 2022. In June 2013, the jobless rate in Far North Queensland fell to its lowest level in almost five years. More recent ABS data shows the region's unemployment rate in May was 5%, almost half the rate 12 months earlier. The latest CairnsWatch report by valuer Herron Todd White reveals employment is rising and unemployment is falling. Research director Rick Carr says ABS figures estimated 115,200 people were in work during May 2014, a large difference from the estimate of 106,300 people in April. Economy and Amenities Cairns has suffered in recent years as an economy and as a property market, because its two biggest industries are both volatile sectors: tourism and sugar. It is, however, staging a revival, with overseas visitor numbers rising steadily again. According to Tourism Australia, the Cairns region is the 4 th most popular destination for international tourists in Australia after Sydney, Melbourne and Brisbane. Tourism and Events Queensland reported a 36% increase in spending by Cairns day trippers for FY2013, with visitors spending a total of $301 million. Improved air access from China to Cairns has seen Chinese tourists increase 45%, as well as increased visits by the Japanese (10%) and Americans (11%). Cairns is a popular destination for foreign tourists because of its proximity to many attractions: the Great Barrier Reef, Daintree National Park and Cape Tribulation. It s also a starting point for people wanting to explore Cooktown, Cape York Peninsula and the Atherton Tableland. Various parks and attractions take advantage of the city's natural surroundings. Among them are Rainforestation Nature Park, Tjapukai Aboriginal Cultural Park, and the Kuranda Skyrail Rainforest Cableway, which extends for 7.5 km over World Heritage rainforest. Cairns International Airport is 7km north of Cairns City between the CBD and the Northern Beaches. It is Australia's 7 th busiest domestic airport and 6 th busiest international airport. The airport has a domestic terminal, a separate international terminal, and a general aviation area. The resources boom in Papua New Guinea has resulted in a big increase in flights out of Cairns. Passenger numbers between Cairns and PNG have doubled since 2005, with up to 14 flights operating daily between the destinations. Additional flight routes to Toykyo, Osaka, Brisbane, Sydney and Melbourne introduced during FY2014 have also contributed to the growth.
North Queensland Airport s marketing general manager Janice Antonson said the boost in flight numbers locally was mainly due to PNG's booming mining sector and an expanding tourist market. "We're only an hour and 40 minutes by air to Port Moresby. It's a great recreational spot for the miners to come back to for a weekend of rest or come and do their shopping," she said Jetstar provides the largest number of international seats out of Cairns with 3,333 each week to Osaka and Tokyo. Jetstar is expected to introduce 787s on their Tokyo-Cairns and Osaka-Cairns routes in late 2014 and extra services, which will provide 52,000 extra seats on these two routes. Other flights include four by Air New Zealand to Auckland, seven by Cathay Pacific to Hong Kong, seven to Singapore by Jetstar via Darwin and two to Guam on Continental Airlines. Recently China Southern and China Eastern have begun direct flights from China. Cairns serves as the major commercial centre for the Far North Queensland and Cape York Peninsula Regions. It is a base for the regional offices of various government departments. The land around Cairns is still used for sugar cane farming, although this land is increasingly under pressure from new suburbs as the city grows. Within the Cairns Regional Council area, sugar mills operate in Gordonvale and Babinda. The Barron Gorge Hydroelectric Power Station is located nearby in Kuranda, and provides green power for some of the city's needs. A November 2013 report said James Cook University is worth nearly $600 million to Queensland's economy, with 90% of the income injected into Townsville and Cairns. Property Profile The Cairns market has been a lukewarm performer over the past five years, with growth ranking it towards the bottom of the list of major Queensland locations. The history of the Cairns market shows volatility. It showed a big spike in price growth in 2004 and another around 2007, but with major decline in between. There had been little growth in recent years, but agents and valuers have reported increased activity since early 2013. The December 2013 CairnsWatch report from Herron Todd White rated Cairns as being in the recovery phase from its previous position of bottom of the market. In 2014 Cairns has been identified in Hotspotting research for the Price Predictor Index as a market with strongly growing sales activity, with strong indications that price growth would follow. More recently prices have started to follow the pattern of sales volumes, especially in the unit market. There has also been an uplift in builidng activity. Herron Todd White research director Rick Carrin said in March 2014 that building approvals were close to a three-year high". "There were 487 new dwellings approved in Cairns in 2013, an increase of 7.3% on 2012," he said.
This trend has continued into 2014 as more money is poured into construction both residential and commercial. According to the ABS, nearly $155 million more was spent on construction in FY2014 than in FY2013. The table below provides a comparative breakdown of the value of total building approvals for the last three years, showing a big increase in FY2014. Value of total building approvals, Cairns Financial year Residential ($ 000) Non-residential ($ 000) Total ($ 000) 2013-14 221,548 164,418 385,966 2012-13 166,540 64,728 231,268 2011-12 142,213 97,445 239,658 Examples of properties currently listed for sale around Cairns include these:- Suburb Type Beds Price Rent Yield Comments Cairns North Unit 1 $95,000 $185 8.0% Close to hospital, airport, transport, a/c Yorkeys Knob Unit 2 $299,000 - - Off-the-plan Manoora Unit 2 $225,500 $295 4.4% Secure gated complex, pool, a/c Woree Unit 2 $178,000 $300 5.4% Gated complex, gym, pool Cairns City Unit 2 $210,000 $230 5.6% Walk to shops, restaurants, esplanade Edmonton House 3 $350,000 $400 5.9% NRAS lease in place until Nov 2021 Mt Sheridan House 3 $315,000 $340 5.6% Close to schools, shops, parks, highway Kewerra Bch House 3 $380,000 $380 5.2% Close to shops, school, transport, a/c Kewerra Bch House 4 $399,000 $380 4.9% Approx 20km north of Cairns CBD Smithfield House 4 $449,500 $400 4.6% Older style timber home, pool Smithfield House 4 $382,000 $375 5.1% Modern, tenanted until Jan 2015 Machans Bch House 8 $599,000 $800 6.9% Older style timber, 2-story, 4 tenants Source: realestate.com The increase in sales volumes reported in The Price Predictor Index published by Hotspotting is starting to translate through to higher prices. Several suburbs have recorded double-digit growth in their median hosue prices in the past 12 months, but the more mainstream result is moderate singledigit growth, with a couple of locations still in decline. Cairns remains a reasonably affordable market. Most suburbs have median house prices somewhere in the $300,000s. Suburbs like Earlville, Manoora, Manunda and Woree are cheaper, with median house prices at or below $320,000. Units are affordable in many Cairns suburbs, including several with median prices below $200,000. There is a high content of apartments in the Cairns market: the tables on the following page, listing sales in major Cairns suburbs in the past 12 months, record 1,356 house sales and 735 unit sales. In 2013 we observed a marked rise in the number of unit sales, but with a drop in median prices in many Cairns suburbs. This suggested that investors were buying units at bargain prices, a circumstance that is often a prelude to a rising market. Figures released by the REIQ in December 2013 confirmed this, revealing a 10% median price rise to $215,000 over three months. Annual price growth in units can be seen across most suburbs with eight suburbs exhibiting doubledigit gains, including Manunda at 30% and Woree and Holloways Beach at 27%.
The other feature of the Cairns unit market is the high yields. Most Cairns suburbs with significant unit markets have median yields above 7%, including Bungalow above 8%. Vacancies across the Cairns market, according to sqmresearch.com.au, include 1.7% in postcode 4870 (Mooroobool, Edge Hill, Manoora, Parramatta Park), 2.6% in postcode 4878 (Yorkeys Knob, Trinity Park), and 3.0% in postcode 4879 (Kewarra Beach, Trinity Beach, Clifton Beach). The Cairns market can be summarised as follows:- UNITS No. of sales Median price 1-year growth Growth average Median yield Bungalow 27 $155,000 12 % 5 % 8.4 % Cairns City 143 $410,000 19 % 4 % 7.0 % Cairns North 180 $229,000 4 % 2 % 7.7 % Earlville 28 $218,000 19 % 7 % 7.7 % Edge Hill 27 $174,000 12 % 6 % 7.8 % Holloways Beach 26 $178,000 27 % 4 % 6.8 % Manoora 72 $146,000-6 % 2 % 7.8 % Manunda 78 $185,000 30 % 7 % 7.9 % Mooroobool 21 $180,000 3 % 4 % 7.3 % Parramatta Park 36 $216,000 2 % 3 % 7.1 % Woree 35 $160,000 27 % 5 % 7.9 % Yorkey s Knob 62 $223,000 23 % 4 % 6.4 % HOUSES No. of sales Median price 1-year growth Growth average Median yield Bayview Heights 69 $397,000 10 % 6 % 5.5 % Bentley Park 134 $327,000 2 % 5 % 5.7 % Bungalow 32 $335,000 18 % 6 % 5.8 % Cairns North 29 $360,000 3 % 4 % 5.4 % Clifton Beach 65 $550,000 4 % 3 % 4.7 % Earlville 42 $320,000-2 % 5 % 5.7 % Edge Hill 76 $458,000 14 % 6 % 5.1 % Gordonvale 112 $324,000 3 % 8 % 5.6 % Holloways Beach 36 $372,000 8 % 5 % 5.0 % Machans Beach 24 $348,000 4 % 6 % 5.0 % Manoora 45 $260,000-3 % 6 % 6.5 % Manunda 57 $310,000 9 % 5 % 5.5 % Mooroobool 92 $322,000 3 % 5 % 6.0 % Mt Sheridan 176 $349,000 7 % 4 % 5.5 % Parramatta Park 29 $370,000 7 % 3 % 4.8 % Smithfield 160 $372,000 1 % 5 % 5.6 % Westcourt 40 $321,000 9 % 4 % 5.8 % Whitfield 79 $470,000 11 % 6 % 5.1 % Woree 36 $312,000 16 % 5 % 5.7 % Yorkey s Knob 23 $360,000 15 % 5 % 5.6 % Source: Australian Property Monitors No. of sales is the number of unit sales over 12mths; Growth average is the average annual growth in median unit prices over 10yrs. Snr: statistically not reliable.
Future Prospects The Cairns revival is being underpinned by multiple factors. Tourism, which has traditionally been the key to Cairns prosperity, has revived boosted by growing visitor numbers from China. Infrastructure development, one of the greatest catalysts to economic and real estate growth, is increasing, including upgrades to the airport, the sea port and the hospital. A new major resort is planned for Yorkey s Knob. Hong Kong billionaire Tony Fung plans to turn the Reef Hotel Casino in Cairns into a world-class venue, independent of his proposed $4.2 billion Aquis Great Barrier Reef Resort. The Cairns Regional Council attributed the increase in planning applications - which rose from 85 in late 2012 to 137 in November 2013 - to confidence generated by the Yorkey s Knob project. Speaking to the Chamber of Commerce in July 2014, Cairns economist Bill Cummings said Cairns would ride any growth spurt generated by the proposed Aquis development. He produced figures showing the population of Cairns grew 57% (around 40,000) in 12 years between 1984 and 1996. By comparison, the Aquis development at Yorkeys Knob has been tipped to add another 80,000 people to the Cairns population. The number of hotel and motel rooms is tipped to increase 60% by 2027, but will still be short of the 1984-1996 boom era, according to Cummings. Master Builders Queensland has forecast "steady construction growth", particularly in Far North Queensland, after 2013 finished with strong activity. Cairns housing approvals rose 61% from 36 in January 2013 to 58 in January 2014. Carrin said: "There were 487 new dwellings approved in Cairns in 2013, an increase of 7.3% on 2012." These statistics confirm that activity in the construction industry is rising. Other evidence of future growth in Cairns was contained in a report on population growth from the Queensland Schools Planning Commission. It indicates student numbers may rise 5,600 over the next two decades. The paper says the Mt Peter area may need four new primary schools and a high school by 2031 to keep up with the rising population in the area. The expansion of existing primary schools in the Gordonvale, Trinity and Woree areas may also be necessary by 2021. - Highway upgrades The plan to upgrade an alternative route to the often-flooded Bruce Highway has been hailed as a lifeline for the Far North. It will take six years to complete, but sealing 155km of the Hann Highway from Lynd Junction (320km south-west of Cairns) to Hughenden is seen as vital for the region. The Cairns Post reported analysts have calculated the $45 million upgrade will provide benefits worth $100 million for the tourism, cattle, mining and transport industries over the next 30 years.
The Far North is crippled each wet season when flooding cuts the Bruce Highway for days at a time. The upgrade is also predicted to open up new economic opportunities such as the Gilbert River Irrigation Scheme and provide a viable alternative to the Bruce Highway. The first stage of a $150 million upgrade to the Bruce Highway from Woree to White Rock was completed in April 2014. Other plans include the next stage of the southern access corridor upgrade in Cairns, which will widen the highway from four to six lanes between White Rock and Bentley Park. Among the highest priorities on the Far Northern stretch of the highway is an upgrade for the Babinda intersection and a $300 million duplication of the highway from Edmonton to Gordonvale. - Airport A 20-year plan for a $1 billion redevelopment of Cairns Airport was approved by the State Government in March 2013. The vision for Cairns airport, outlined in 2011, includes a mining industry hub, a shopping centre, a larger general aviation precinct and innovative airline agreements. A report in The Cairns Post said 4.5 million passengers passed through Cairns Airport during FY2014. This was a 2.6% or 114,700 increase on 2013. - Tourism industry A survey published in February 2013 named Cairns as the most popular Queensland venue for overseas companies to hold meetings. The Queensland Business Events Survey found the Cairns region hosted 102 international meetings, compared with 95 on the Gold Coast and 67 in Brisbane. The Cairns Convention Centre was awarded the Gold Queensland Tourism Award for Business Tourism in late 2013. More recently, it was declared the 2014 World s Best Congress Centre at the annual General Assembly of the International Association of Congress Centres in Berlin. The Convention Centre competed against 170 venues in 54 countries for the award, which is measured by client satisfaction. Cairns Convention Centre general manager Ross Steele said an estimated $85 million would be spent by 15,000 delegates booking 145,000 hotel rooms throughout 2014. Other events which mark an upturn in tourism prospects include:- In November 2011 Cairns $15 million cruise ship terminal opened. During 2014, 52 cruise ships are expected to dock in Cairns including the Queen Mary 2. Cummings estimates average expenditure per passenger is $200 and crew is $70 each. Supplies and berthing fees for a small ship can amount to $42,000. Yorkeys Knob marina has undergone a $1 million upgrade, enabling it to receive large cruise ships such as the Queen Elizabeth, which makes her first official visit to the Far North in 2015. Architects behind some of the world's most impressive aquariums will design the $35 million Cairns Aquarium. Peddle Thorp Architects and Ellick & Partners Architects were awarded the contract to design the building, which is set to open in July 2016.
- Resources activity North Queensland Senator Ian Macdonald said forecasts from the Bureau of Resources and Energy Economics showed export income was likely to rise in 2014-15 off the back of robust growth in iron ore and LNG export volume. He said BREE forecast resources and energy export earnings would increase 2.6% to $201 billion in 2014-15. This is a further positive sign that our resources and energy boom is far from over as major projects transition from the construction to the production phase, he said. Bremar Minerals director Brett Duck said bauxite and silica sand production was strong and he was hopeful the State Government would help expand mining in the Far North, including uranium. In September 2013 the Government approved a $1.4 billion Rio Tinto bauxite mine at Weipa. A gold, silver and copper mine is proposed by Mungana Goldmines near Chillagoe on the Tablelands. According to Cummings Economics research, as at September 2013 there were 2,350 FIFO workers commuting from Cairns Airport to mine sites across northern Australia, Papua New Guinea and Indonesia, plus another 250 in the process of being employed by BHP Billiton Mitsubishi Alliance in their Daunia and Caval Ridge mines. Cairns FIFO co-ordinator Jeremy Blockey predicts this number could double to 6,000 in six years, resulting in $760 million in wages and salaries. Some reports also suggest workers for coal mines were recruited exclusively from Cairns and southeast Queensland because those regions had high unemployment. - Steel exports Cairns Steel Fabricators struck a deal with Ports North to move 1,000 tonnes of steel worth $8 million to Manus Island in June 2014. The re-opening of the Manus Island Asylum Detention Centre has provided opportunities within the construction industry, positioning Cairns as a potential supply hub for Papua New Guinea. Cairns Steel Fabricators director Sean Adams said the company had hired another eight workers. He said the business, which has 125 staff, had also been awarded a contract with PNG s Ok Tedi mine to provide steel in a deal worth $3 million. He said the steel will be shipped out in November. The Manus Island deal follows the port authority working with Sims Metal Management to ship 3,000 tonnes of recycled scrap metal to Asia every three months. - Developer incentives Cairns Regional Council implemented a scheme in 2011 to encourage investment by offering developers discounts on council fees and charges. Back then, the scheme discounted infrastructure fees for 32 construction projects, adding $43.5 million directly to the local economy. To date, the program has supported regional construction projects valued at over $443 million, with $68 million worth of projects already completed or under construction. The current round, which is focused on construction in the city centre, has seen 24 commercial and retail developments granted discounts totalling $12 million.
- Naval base expansion Plans to expand the city s naval base were announced in June 2011. Expansion of HMAS Cairns was seen as an opportunity for future development and economic prosperity. Former Defence Minister Stephen Smith launched the landmark Force Posture Review to examine the need to move defence assets to the north and west of Australia to meet changing security challenges. HMAS Cairns is considered an ideal candidate for expansion in terms of its strategic location and potential to build on existing facilities. The Ports North dredging plan, which is aimed at attracting more mega cruise ships, includes a wharf expansion and developing two swing basins, including one almost directly opposite HMAS Cairns. The State Government has declared the Ports North submission a "significant project", with plans to widen the outer channel by 50m, the inner channel by 85m and to deepen the inlet by up to 1.7m. The project is estimated to cost between $80 million and $110 million but Tourism Tropical North Queensland chief executive officer Alex de Waal says improved access is expected to result in large cruise ship numbers growing by 63 annual visits by 2025. (This will) inject $634 million into the regional economy and generate up to 679 extra flow-on jobs per year by 2041, he said. Ports North is undertaking a dredging Environmental Impact Statement as at September 2014. Warning In the aftermath of floods and cyclones in recent years, many Cairns property owners have incurred large increases in insurance premiums. The issue is of major concern for the Chamber of Commerce and Industry Queensland. Shine Lawyers has launched an online petition calling for fair insurance premiums. The Federal Government is expected to launch an insurance aggregator website for north Queensland and also plans to publicly name and shame insurance companies that "gouge" their Far North customers. Investors would be wise to shop around for insurance and thoroughly research the fine print of insurance policies.
Projects impacting on the Cairns market can be summarised as follows:- Project Value Status Impact Aquis Great Barrier Reef Casino Resort, Yorkeys Knob Tony Fung Cairns Airport redevelopment Cairns Hospital upgrade (formerly known as Cairns Base Hospital) Mt Emerald wind farm near Tolga Ratch and Port Bajool Asia Pacific Energy Innovation Centre, Port Bajool Australian Institute of Tropical Health and Medicine James Cook University $8 billion 9 hotels with 7,500 rooms, 1,200 units, 135 villas, shops, convention centre, 2,500-seat theatre, 18- hole golf course, reef lagoon, aquarium. $1 billion 20yr plan to redevelop the airport, including a 2 nd runway and relocation of airlines to a new precinct. $455 million An extra 168 beds, special care nursery, intensive care unit, birth suites, cardiac care, day surgery, mental health, pathology, aged care services. $380 million 75 large wind turbines to be built. $10 million Centre features a 200- seat restaurant and galleria showcasing energy generation technologies. $117 million Includes facilities in Cairns, Townsville and on Horn Island. Currently undergoing EIS process. FIRB approval obtained in March 2014. Negotiating with Indigenous groups in August 2014. State Govt announced approval in March 2013 for the Cairns Airport Land Use Plan. Under construction. Due for completion in 2015. Opposed by local and environment groups. Undergoing EIS in September 2014. Announced in April 2012. (An attraction in conjunction with the Mt Emerald Wind Farm.) State Govt approved $42mil funding in Decr 2012; the Federal Govt added $42mil in May 2014. It would create 3,750 jobs in construction and 20,000 full-time jobs when operational. Includes a cancer care unit (patients previously had to travel to Brisbane or Townsville for treatment). Will provide 531 beds in total by 2015. Expected to create 158 construction jobs and 45 ongoing jobs. Would provide longterm jobs for 80 to 100 people.
Project Value Status Impact Mt Garnet Tin Project, (Consolidated Tin Mines) New silica quartz mine; Lighthouse mine, Mt Surprise Auzminerals Resource Group Watershed project, Mt Carbine tungsten mine (Vital Metals JV with Japan Oil, Gas and Metals Corporation) Port of Cairns shipping channel expansion FNQ Ports Corporation Edmonton Industry and Business Park Pregno Family Investments $125 million Has a resource base of 8-10 million tonnes to process about 1mpta to produce 5,000 tonnes of tin in concentrate each year. $120 150 million Mine and produce high quality silica quartz sand processing operations in Australia and South-east Asia. $100 million 6,000 tonnes of concentrate a year, worth $270 million, to be shipped to Japan, the US and Korea. TBA The project will enable larger ships, including Naval and cruise ships, to enter the port as well as enabling future expansion of HMAS Cairns Navy Base. $400 million 212ha site; 250-bed hospital, business & technology parks, homemaker centre, tavern, recreation and sport. At feasibility stage in September 2014. MOUs were signed in May 2013 to establish 3 joint ventures and processing plants in Melbourne, Nanjing (China) and Singapore. DNR granted mining leases Decr 2013. A feasibility study will be undertaken and construction may start late 2014. Currently undergoing EIS. The project requires approvals from State and Federal Govt, plus the Great Barrier Reef Marine Park Authy. Will initially create 50 jobs and later around 120 jobs. The Lighthouse quartz mine has been valued at $1.5 billion and contains "rare and extremely high-purity lump quartz suitable for use in solar and electronics manufacturing industries." Will create 200 jobs during construction and 120 in operation. The expansion is expected to create 215 construction jobs and 370 flow-on jobs by 2026. Located 14km south of Cairns CBD, the precinct has the potential to generate 4,000 jobs.
Project Value Status Impact Bruce Highway upgrades: 1. Woree to White Rock $150 million Completed. Completed in April 2014. Project is creating 400 jobs. 2. White Rock to Bentley Park 3. Edmonton to Gordonvale $4.1 billion Widen the highway from 4 to 6 lanes. $300 million Duplication of the highway from Edmonton to Gordonvale & Babinda intersection upgrade. Funding announced in State and Federal Budgets 2013. Funding announced in State and Federal Budgets 2013. Improve safety, cut travel times, ease congestion and improve flood immunity along 1,800km highway. Department of Transport & Main Roads Cairns Aquarium and Reef Research Centre Local businessmen and private investors Adventure Waters Water Park, Smithfield Adventure Waters (Paul Freebody) Cairns Adventure Park Investors in Nature (Over 10 years, $500 million will be spent on "pavement rehabilitation", $334 million for new overtaking lanes and $200 million for safety barriers.) $35 million 3-level facility on 4000m 2 block. $43 million An aquatic theme park on 7ha near the proposed Aquis Resort. $50 million A 4.3ha adventure park featuring a mega-zip line opposite Cairns Airport Aeroglen. Construction to start 2015. $765,000 in contracts awarded to local firms Sept 2013. Approved by CRC in 2009. Has had delays, is now negotiating with Ergon for power supply. Lease purchased 2009, finalising investors in August 2014. To create 150 construction jobs and 80 operational. Expected to attract 500,000 visitors and revenue of $16-20 million a year.
Project Value Status Impact Woree residential & commercial development Sunset Drive Inn Babinda residential & commercial development MSF Sugar Ella Bay Integrated Resort, 88km south of Cairns. Satori Ella Bay Sheraton Mirage Port Douglas upgrade David Marriner/the Fullshare Group Bluewater master planned community Brookfield Residential Properties Edmonton Town Centre master plan Residential & commercial tower development, Spence Street Aspial Corp $175 million 520 dwellings to house 1,000 on Woree drive-in site. TBA 25.5ha site on the Bruce Highway; will include 25 houses, offices and light industrial. $1.4 billion Transform a 450ha cattle station into a resort and residential eco-community over 15 years. Includes 5 resorts, 540 homes; a village precinct; 18- hole golf course and swimming lagoon. $200 million To be upgraded to a six-star hotel with a new golf course. $250 million Includes a $10mil hotel, 135 residential lots, retail and a new road between Trinity Beach and Bluewater. TBA Shopping centre, residential area, community facilities, showrooms, dining and entertainment, offices and shops. $200 million Mixed use: office, commercial, retail & residential. Headworks begun; the 4-stage development is awaiting approval from CRC. CRC gave preliminary approval in May 2013 for a mixed-use development. Coordinator-General s and EIS approval granted in November 2012. Expected to start construction in 2014. Under construction. Work on the hotel began July 2014 and is expected to be completed in 2015. Council approved in principle support in June 2012. Site purchased February 2014. On the site of the Babinda Sugar Mill that closed in 2011 and was demolished January 2014 The development is likely to generate $256 million p.a. in expenditure by visitors staying in the region, and $50 mil in State Government taxes and duties. 200 construction jobs will be created. The hotel will create 60 construction jobs and 30 operational jobs.
Project Value Status Impact Retirement village, aged-care facility & residential estate, Kewarra Beach $100 million Includes 180 villas and a 90-bed aged care facility. Construction will start after sale of other assets; unlikely to occur in 2014. Sean Howard Taylor Point residential devt Robert Prettejohn Rebuilding Machans Beach seawall Cairns Regional Council JDS Group Masters Home Improvement Centre, Portsmith Laurence Lancini Redlynch Central shopping centre expansion Keir Constructions Bunnings Warehouse Shopping centre, Smithfield Trinity Park Investments TBA 19 houses to be built on 18ha. $10 million A 1.3km seawall will be rebuilt 20m further out and in three stages. $25 million Three buildings will house 10 tenants next to the existing Masters Home Improvement Centre. $20 million Expansion includes Coles and Liquorland, an additional 10-15 speciality shops. $43 million A new store will open opposite Masters. $50 million New retail centre of 19,400m 2. Includes supermarket, specialty shops, hardware store. Council approval in June 2013. Approved by CRC in January 2014 and expected to take 3 years to build. Under construction. Completion expected by the end of 2014. Under construction. Due for completion late 2014. Council approval in Feb 2013. An appeal was lodged by Dexus Funds Management, the owner of the existing shopping centre at Smithfield, July 2013. About 60 subcontractors and tradies would be hired with aged-care facility employing 120 fulltime staff at its peak. The road and waterfront homes will be better protected during rough sea conditions, especially cyclones. All workers and subcontractors will be hired from the Cairns area. Expected to create 250 construction jobs and 100 full-time retail jobs. 210 staff will be employed. Will create 500 jobs in construction.
Project Value Status Impact Cinema complex, Smithfield Cairns Performing Arts Centre (Previously known as Cairns Cultural Precinct) Cairns City Council Mt Peter Catholic School Catholic Education Training centre, West Barlow Park Tobruk Pool redevelopment CRC TBA 5 cinemas, restaurants gym, offices, next to Smithfield Shopping Centre. $94 million (Formerly $240 mil 1,100-seat theatre, open air plaza and car parking.) Approved by CRC. Work to begin some time in 2014. Council approved the Cairns Cultural Precinct Dec 2011. But state and federal funding withdrawn in June 2013. Funding still to be sourced. $10 million Funding still to be sourced. Hopes to open the new facility in 2016. $15 million Training centres for various sporting codes. To include gym, medical facilities, classrooms and accommodation. Sports, government and industry bodies approved the concept in March 2013. $26 million Expected to begin late 2014 and finish late 2015. Intend to build a Prepto-Year 12 Catholic College at Mt Peter. To be used as a base for leading soccer, union and league teams.