Cairns Commercial Property News

Malaysian investment giant Mulpha International has struck its first local hotel acquisition in years, buying The Rydges Esplanade Cairns hotel in a $41 million deal. This article originally appeared on theaustralian.com.au/property.

Cairns is proving to be one of Australia’s leading hotel growth markets, with the Rydges Tradewinds Cairns selling for $34 million at the same time as the landmark Novotel Cairns Oasis Resort is listed for sale.

Stockland Group is poised to take advantage of Australia’s white-hot sub-regional shops market by offering up one of Queensland’s largest retail hubs.

Developers and investors are looking to capitalise on the booming education market.

Queensland’s hotel property sector is expected to continue to see strong transaction levels, despite an influx of new room supply.

Much of Queensland’s regional retail market looks set to rebound, with some cities starting to recover from the market downturn.

The Cairns hotel market is riding a wave of success, with a pair of popular hotels the latest to be offered for sale.

Ducking cyclones, dealing with jumps in insurance premiums and capitalising on growth are all part of the game for investors in Australia’s northern cities, Paul Thornhill finds.

A $4.2billion mega resort and casino – with more than 4000 rooms, a 25,000-seat stadium and a 20ha reef lagoon – is earmarked for the Cairns suburb of Yorkey’s Knob.