Wet’n’Wild Gold Coast, Australian Outback Spectacular and Warner Bros. Movie World listed by Village Roadshow
Village Roadshow's Theme Parks division is proposing the sale and long term leaseback of the 154 hecatare site featuring Warner Bros. Movie World, Wet’n’Wild Gold Coast, Paradise Country, Australian Outback Spectacular, and Village Roadshow Studios.
The land also features a Topgolf venue, currently under construction. Development approval is in place for a nine storey hotel.
Clark Kirby, VRTP Chief Executive Officer, sthey are committed to our Theme Parks business, with the DC Rivals HyperCoaster, the longest, highest and fastest rollercoaster in the Southern Hemisphere opening soon at Warner Bros. Movie World, and Topgolf under construction.
“This sale and leaseback will unlock the value in these land assets, allowing VRL to pay down debt and free up capital for growth initiatives such as Topgolf.”
John Marasco, Colliers International Managing Director Capital Markets said there is nothing like this investment opportunity currently available in Australia.
"We expect interest from institutions, trusts and high net worth individuals worldwide, and are expecting offers in the region of $100 million," he said.
“Village Roadshow Theme Parks is Australia’s leading theme park developer and owner. This is evident as their parks and attractions draw over five million local and overseas visitors annually.
“The offer is for a substantial landholding with an experienced operator in the midst of strong underlying economic, population and tourist growth projections for the region."
The key terms of the long term lease agreement for the land contemplated include:
Commencing rent: $6.2 million from 1 January 2018
Initial term: 30 years
Options: 6 further terms of 10 years each, total 90 years
- Rent reviews: 3% per annum
The site is being sold by Colliers International through an international expressions of interest campaign closing on 26 October 2017.