Regional Commercial Property News

One of North Queensland’s largest resorts, Castaways at Mission Beach, is set to be demolished and rebuilt under a $70 million plan funded by its Melbourne-based owners, the Neville-Smith Family, and a financial partner.

A local investor has splashed a big sum on Wodonga’s iconic Blazing Stump Hotel. 

Theme park operator Village Roadshow has downgraded its earnings forecasts after weak visitor numbers were compounded by a wet March and competition from the Gold Coast Commonwealth Games. 

The Shanghai-based owners of Queensland’s Daydream Island Resort and Spa have been forced to double the renovation costs of their beleaguered resort to $100 million, following substantial damage caused by Tropical Cyclone Debbie last year.

A North Geelong infill site presents a multimillion-dollar opportunity to build close to some of the suburb’s biggest businesses. The 2.4ha property at 34-44 Separation St is on the market in an expressions of interest campaign through Geelong …

A Newtown service station site is expected to attract interest above $1.5 million when it goes to auction this month. The 2086sq m property at 404-408 Shannon Ave, Newtown, is a prime corner site occupied by a Caltex service …

A wholesale fund run by Vicinity Centres has put two major shopping centres on the block for more than $280 million as it winds back its funds management ambitions and focuses on its balance sheet assets.

Dual anchor tenants Woolworths and Dan Murphy’s are expected to create interest in Bellarine Village Shopping Centre, which has been listed for sale.

A key commercial site between a new McDonald’s restaurant and a 7-Eleven fuel outlet at Armstrong Creek has hit the market.