Ella Bay eyes Port
THE developer of a major Far North Queensland resort project has extended the cut-off for potential investors.
Expressions of interest for the massive Ella Bay Integrated Resort project, near Innisfail, now close Friday, December 11.
Despite an initial deadline of September 17, Knight Frank Cairns senior commercial negotiator John Lynch said the site had “attracted considerable interest” from potential buyers.
“There’s been interest from China and Europe and from qualified people within Australia,” he said.
“It could be an outright sale to someone or a joint venture.”
About $60 million is needed to start the proposed development, which aims to transform a 470-hectare property into a world-class “eco-resort”.
Stage one of the project, The Little Cove Resort, has received full developmental approval, while stages two to five have been given environmental approval from the state and federal governments.
“To gain all the approvals and get to the stage we are at now has taken a long period of time,” Mr Lynch said.
“It’s very significant development.”
The Ella Bay project has been tipped to eventually cater for more than 2000 visitors and will feature six resorts, shops, and an 18-hole golf course.
It received bipartisan support from the Queensland Government in 2012, but has struggled to attract investors.
But Mr Lynch was adamant Ella Bay would one day join Port Douglas as one of Australia’s leading tourist destina- tions.
“Imagine what Port Douglas was like before the whole Christopher Skase thing happened,” he said.
“Why can’t we do something like that 80km south of Cairns?”
A former cattle property and banana farm, Ella Bay is situated on 4km of coastline.
The project’s Brisbanebased developer, Rod Lamb, will deliver a presentation on Ella Bay at the 2015 Northern Queensland Economic Summit, being held in Cairns next week.
The Bay project has received "considerable interest" from potential domestic and foreign investors