YIKES! Keep an eye on CAIRNS!!

Discussion in 'Where to Buy' started by JenJen, 22nd Aug, 2013.

  1. +Mpire_Builder+

    +Mpire_Builder+ Member

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    Have not been on this thread for a month or so.
    Made me laugh.
    Same drumming going on.
    Jen-Jen, you put a lot of effort into your posts, kudos to you for that.
    Must be a hard gig being a buyers advocate up there!
    Maybe you should consider a career in politics, since you so persuasive at spinning facts to suit your motive...
     
  2. Purple Patch

    Purple Patch Member

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    +1 for Jen and her great posts. It always amazes me what the mainstream press comes up with.
    Cheers
    PP
     
  3. JenJen

    JenJen NQ Buyer's Agent

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  4. Dolly

    Dolly Member

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    The politician in Cairns is very well presented when you first meet him. Very self assured, seems to know a lot and talks the talk it seems. But soon you find he just says what sounds good. He was in the media nearly everyday with AQUIS saying he would cut red tape, the construction would start in a few months, the license would be quicker than the other government and it could only happen with his government etc etc etc. Now we have the Gaming probity guy say they do it the same way for 30 years. So Fung fund out what the people that live already knew, he is a know it all but knows nothing. Strings us along with false promises. Typical politician. Now we have the mayor desperate because he has put every project on hold for this so Cairns is going backwards fast. Fung has delayed the option to 2020 so my guess is he will wait to see if visitor numbers improve as his plans were far too optimistic.

    But I digress. I am trying to get a group together interested in a development and am having trouble getting the most basic information. The area I was interested in has existing housing so would rely on them willing to sell. One of my friends said the costs for development are the same for greenfield so there is no incentive to deal with owners, options and demolition. Then I see this with my eyes, old run down housing remains while the town grows out and sprawls. Seems bad planning to me. So I went to Cairns council website and cannot find a simple answer. Feel like giving up before I start. Does anyone know about developments costs in user friendly terms.?
     
  5. JenJen

    JenJen NQ Buyer's Agent

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  6. Dolly

    Dolly Member

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  7. jameso

    jameso Member

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  8. Kinnon Bell

    Kinnon Bell Member

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    I attended an afternoon tea where the Aquis Project Manager was presenting to give an update on the development - it was pretty much 2 hrs of fluff with nothing new discussed, just going over what Aquis will be and re-affirming that they are still taking the necessary steps to go ahead with the project.

    Here are some of my notes from event:

    Total size is 340ha. There will be a 33ha artificial lake and a 40ha 'island' that will be the main resort/casino area. The whole development will be flood tolerant and has been driven by 'impact avoidance' where they want to impact the local environment as little as possible and in some parts leave it in a better state than what it is now.

    During the 2 stage construction there will be 7,250 jobs and 20,000 when fully operational. Total of 7,500 hotel rooms when completed and the total development will include retail shopping, aquarium, theatre, outdoor sport and rec facility, 18 hole golf course, convention and exhibition centre.

    The EIS has been approved (in record time apparently) and now they're negotiating the casino agreement at a state level (no federal involvement). After that it's capital raising and then design. They said best case scenario is approval and start post wet season 2016.

    There's been 230 submissions in response to the proposal - 40% supported the development and 40% supported with buts. All these submissions can be viewed on the co-ordinator general website.

    They project the population to be 300,000 by 2036 but the treasury expects lower. They will still develop to the projected level as it will hit that population level eventually whether it's by 2036 or later.

    They're waiting for the EPBC (Environment Protection and Biodiversity Conservation act) to be signed off at a ministerial level.

    Capital for the project has not been raised yet, they're waiting for more certainty.

    They're building the Aquis brand within Aus for more brand recognition. There's a new arm of the Aquis brand which is Aquis Entertainment and they're sponsoring a footy team (forgot to write which code). They've also appointed a new CEO of Aquis Entertainment.

    There's the expectation of a lot of 'me too' followers once (if) this is built so will act as the anchor point for a lot of new developments.
     
  9. Azazel

    Azazel Member

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    Thanks for the update.
    The EIS being approved is good news.
     
  10. Azazel

    Azazel Member

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  11. jusm

    jusm Member

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    nothing to do with AQUIS, but Yorkeys rental market seems pretty robust right now. Put our 4br place up and had interest within 10 minutes which has now been converted to a 12 month lease at $30pw increase... great tenants as well.

    In addition RPDATA shows the place has increased 17% in 24 months.

    Pretty happy with the "Knob" right now and bring on AQUIS!
     
  12. Bran

    Bran Member

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  13. jusm

    jusm Member

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    I'm up at Yorkeys Knob doing some painting/maintenance between tenants. I've noticed a real uplift in sentiment in the past two years since I was here. The city is absolutely buzzing... Has an amazing feel at the moment.. That lower exchange rate has really kicked in.

    The planes fly over Yorkeys to land and they are PLENTIFUL I can tell you. My property manager is abuzz, vacancy rates at 2.5%. If I was looking to go again I would probably go Cairns (still not a unit though). If this casino ever gets up, lookout is all I'll say.

    Cheers
    Justin
     
  14. Bran

    Bran Member

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    It's funny. I quite enjoyed the Cairns planes, knowing they were descending into paradise.

    Now, I imagine I would like the fact that they are bringing in the tourists and their dollars.

    I hope CBD gets the lift it has needed for so long.

    I'm ethically torn with the casino. It will boost my house and my kids future, but Cairns will never be the same.
     
  15. Bran

    Bran Member

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  16. doozer

    doozer Member

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    Cairns is benefitting from 2 main factors: a low dollar which is driving tourism and low interest rates. Neither lasts forever.
     
  17. jusm

    jusm Member

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    Agreed the casino is a complete game changer for Cairns. The town will never be the same again, but imagine the opportunities.
     
  18. jusm

    jusm Member

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    The dollar is not low, it's nearing normal. Interest rates, yes are low but I think they will stay there for awhile.. Interest rates are also benefitting the rest of the country!
     
  19. doozer

    doozer Member

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    I think Aquis is a pipedream. The project is far too ambitious. If it does then it will be done on a much smaller scale than the plan is at the moment.
     
  20. Bran

    Bran Member

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    +1/2, I think the whole lot will be scrapped. But there are other projects far more reasonable underway.