THE future of the once thriving Cape Tribulation Resort and Spa looks promising with a West Australian buyer purchasing the property for an undisclosed amount.
Cape Tribulation Resort and Spa - formerly Coconut Beach Resort - is a beautiful award-winning resort on 100 acres of the world’s oldest rainforest, fringing the white sands of Coconut Beach - where the rainforest meets the reef.
The resort was built in the early ’90s and sold to the Voyages group in 2002 for $8 million and in the four years in the group was an extremely busy resort which supported the Cape Tribulation economy with overnight guests. Voyages then sold up to OCE in 2006 for $6 million and soon after the global financial crisis hit and the resort suffered like many others and closed its doors in 2011.
The resort has sat idle for almost three years now and was on the market for a mere $1 million.
Raine & Horne’s Daintree region sales specialist Mark Whitham informed the Gazette of the sale.
‘‘The Cape Tribulation Resort is under contract due to settle early November,’’ he said.
‘‘A West Australian buyer has purchased for an undisclosed amount and he plans to revamp the resort to its former glory.
‘‘The Cape Tribulation region suffered badly during the GFC with a number of businesses closing doors.
‘‘This year we can safely say the tourism numbers have improved considerably.
‘‘With CTR the last substantial closed business in Cape Trib, hope is renewed for a full turn around. ‘‘Cape Tribulation is populated with a number of quality businesses and The Cape Tribulation Resort will likely be refurbished to its former glory.