$70m rebuild: Renowned Queensland resort to be demolished
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.
Castaways owner James Neville-Smith wants to take the beachfront resort from 70 rooms to 220 rooms under a staged redevelopment of the prime Mission Beach site, two hours south of Cairns.
He has just lodged plans with the Cassowary Coast Council and is expecting approval to take from three to six months.
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“We have no doubt the region needs it. Hopefully we will get a green light at council and get on with it,” Neville-Smith says, adding that he has had plenty of interest from potential local and offshore partners to help fund construction of the new resort.
He plans to add more restaurants, a conference facility and three swimming pools, bringing the total pools on site to five.
The new Castaways development would also include a multi-level dining facility and underground parking for 160 cars.
Castaways has been operating for more than 30 years, undergoing a small refurbishment in 2006 and in 2010 when the Neville-Smith Group spent $6 million refurbishing it.
Neville-Smith says he struggled to meet demand, mainly from locals located within a 300km radius, but the resort was also increasingly popular with locals and international travellers. “We struggle to cater to the leisure market.
“We like the leisure market because they stay longer and spend more,” he says.
Neville-Smith says it is better to knock down and rebuild the 1985-built resort on the dedicated beachfront site, rather than struggling to maintain it.
The construction will be done in stages with the resort operating throughout the building period.
The new redevelopment will be world class and will deliver significant economies of scale to underpin a sustainable business model for the resort.
Subject to approval construction will being mid-2019 after the Tully World Rafting Championships and would take two years to complete.
This article originally appeared on www.theaustralian.com.au/property.
