cairns qld (far north queensland)...improved air access from china to cairns has seen chinese...

TOP 10 BRISBANE & $QUEENSLAND HOTSPOTS 2014-15

Cairns QLD (Far North Queensland)

Key Influences Sea Change, Transport Infrastructure, Boom Towns,

Government Policy, Education-Medical Infrastructure

Highlights Strong population growth; revival of tourism industry; increase in

overseas flights; Chinese investment & tourism; $4 billion resort;

$450 million upgrade to hospital; $1 billion airport redevelopment;

$110 million port project; Bruce Highway upgrade; retail projects.

Typical houses Edge Hill $458,000, Earlville $320,000, Manoora $260,000,

Westcourt $321,000, Holloways Beach $372,000, Whitfield

$470,000, Bayview Heights $397,000, Bungalow $335,000.

Typical units Cairns City $410,000, Cairns North $229,000, Manoora $146,000,

Manunda $185,000, Parramatta Park $216,000.

Cairns is making an economic comeback, with spinoffs for its property market. Having been hit hard by the Global Financial Crisis, which reduced overseas tourist numbers on which the Cairns economy has largely depended, Cairns has recently shown strong signs of economic revival.

In the 1980s, Cairns was one of the stars in the Australian property firmament, boosted by surging

tourism and investment from Japan.

Those glory days faded and Cairns was overtaken by

Townsville as the most important regional city in North Queensland.

However, there are plenty of positive signs that Cairns is ready to challenge again, boosted by tourism and investment from China, a proactive local council, spending on

infrastructure and success in efforts to diversify the city’s

economy.

Location

Cairns is a regional city in Far North Queensland, about 1,700km

north of Brisbane. It is less than an hour by boat from major

sections of the Great Barrier Reef.

The northern part of the city is located on Trinity Bay and the city centre is located on Trinity Inlet. The Mulgrave River and Barron River flow within the city's boundary.

The city includes the Northern Beaches communities extending north along the coast. They include Machans Beach, Holloways Beach, Trinity Beach, Kewarra Beach, Clifton Beach and Palm Cove.


Population and Demographics

A 2012 report from the Australian Bureau of Statistics ranked Cairns the nation’s 14th

largest city

and one of the fastest-growing. Cairns had grown at an average annual rate of 2.6% over the 10 years to the 2011 Census, compared with the national average of 1.5%.

Cairns City has a population of 156,000 (2011 Census), up from 136,000 in 2006. Between 2001 and

2010, the annual increase in the population of the Cairns Regional Council area ranged between 2,189 (in 2010) and 5,545 (in 2006).

Projections published by the Cairns Regional Council suggest it will reach 200,000 in 2022.

In June 2013, the jobless rate in Far North Queensland fell to its lowest level in almost five years.

More recent ABS data shows the region's unemployment rate in May was 5%, almost half the rate 12 months earlier. The latest CairnsWatch report by valuer Herron Todd White reveals employment is rising and

unemployment is falling. Research director Rick Carr says ABS figures estimated 115,200 people

were in work during May 2014, “a large difference”"from the estimate of 106,300 people in April. Economy and Amenities

Cairns has suffered in recent years as an economy and as a

property market, because its two biggest industries are

both volatile sectors: tourism and sugar. It is, however,

staging a revival, with overseas visitor numbers rising

steadily again. According to Tourism Australia, the Cairns region is the

4th

most popular destination for international tourists in Australia after Sydney, Melbourne and Brisbane. Tourism and Events Queensland reported a 36% increase in spending by Cairns day trippers for

FY2013, with visitors spending a total of $301 million. Improved air access from China to Cairns has seen Chinese tourists increase 45%, as well as increased visits by the Japanese (10%) and Americans (11%). Cairns is a popular destination for foreign tourists because of its proximity to many attractions: the

Great Barrier Reef, Daintree National Park and Cape Tribulation. It’s also a starting point for people wanting to explore Cooktown, Cape York Peninsula and the Atherton Tableland. Various parks and attractions take advantage of the city's natural surroundings. Among them are

Rainforestation Nature Park, Tjapukai Aboriginal Cultural Park, and the Kuranda Skyrail Rainforest Cableway, which extends for 7.5 km over World Heritage rainforest. Cairns International Airport is 7km north of Cairns City between the CBD and the Northern

Beaches. It is Australia's 7th

busiest domestic airport and 6th

busiest international airport. The airport has a domestic terminal, a separate international terminal, and a general aviation area.

The resources boom in Papua New Guinea has resulted in a big increase in flights out of Cairns.

Passenger numbers between Cairns and PNG have doubled since 2005, with up to 14 flights operating daily between the destinations. Additional flight routes to Tokyo, Osaka, Brisbane, Sydney

and Melbourne introduced during FY2014 have also contributed to the growth.

10 TOP 10 BRISBANE & QUEENSLAND HOTSPOTS 2014-15 North Queensland Airport’s marketing general

manager Janice Antonson said the boost in flight

numbers locally was mainly due to PNG's booming

mining sector and an expanding tourist market.

"We're only an hour and 40 minutes by air to Port

Moresby. It's a great recreational spot for the miners

to come back to for a weekend of rest or come and do

their shopping," she said

Jetstar provides the largest number of international seats out of Cairns with 3,333 each week to

Osaka and Tokyo. Jetstar is expected to introduce 787s on their Tokyo-Cairns and Osaka-Cairns

routes in late 2014 and extra services, which will provide 52,000 extra seats on these two routes. Other flights include four by Air New Zealand to Auckland, seven by Cathay Pacific to Hong Kong,

seven to Singapore by Jetstar via Darwin and two to Guam on Continental Airlines. Recently China

Southern and China Eastern have begun direct flights from China. Cairns serves as the major commercial centre for the Far North Queensland and Cape York Peninsula Regions. It is a base for the regional offices of various government departments.

The land around Cairns is still used for sugar cane farming, although this land is increasingly under

pressure from new suburbs as the city grows. Within the Cairns Regional Council area, sugar mills

operate in Gordonvale and Babinda. The Barron Gorge Hydroelectric Power Station is located nearby in Kuranda, and provides green

power for some of the city's needs. A November 2013 report said James Cook University is worth nearly $600 million to Queensland's economy, with 90% of the income injected into Townsville and Cairns.

Property Profile

The Cairns market has been a lukewarm performer over the past five years, with growth ranking it towards the bottom of the list

of major Queensland locations.

The history of the Cairns market shows volatility. It showed a

big spike in price growth in 2004 and another around 2007, but

with major decline in between.

There had been little growth in recent years, but agents and valuers have reported increased activity since early 2013. The December 2013 CairnsWatch report from Herron Todd White rated Cairns as

being in the recovery phase from its previous position of “bottom of the market”.

In 2014 Cairns has been identified in Hotspotting research for the Price Predictor Index as a market with strongly growing sales activity, with strong indications that price growth would follow. More

recently prices have started to follow the pattern of sales volumes, especially in the unit market.

There has also been an uplift in builidng activity. Herron Todd White research director Rick Carrin

said in March 2014 that building approvals were “close to a three-year high". "There were 487 new

dwellings approved in Cairns in 2013, an increase of 7.3% on 2012," he said.

TOP 10 BRISBANE & QUEENSLAND HOTSPOTS 2014-15 11

This trend has continued into 2014 as more money is poured into construction – both residential and

commercial. According to the ABS, nearly $155 million more was spent on construction in FY2014

than in FY2013. The table below provides a comparative breakdown of the value of total building

approvals for the last three years, showing a big increase in FY2014.

Value of total building approvals, Cairns Financial year Residential ($’000) Non-residential ($’000) Total ($’000) 2013-14 221,548 164,418 385,966 2012-13 166,540 64,728 231,268 2011-12 142,213 97,445 239,658

Examples of properties currently listed for sale around Cairns include these:-

Suburb Type Beds Price Rent Yield Comments

Cairns North Unit 1 $95,000 $185 8.0% Close to hospital, airport, transport, a/c

Yorkeys Knob Unit 2 $299,000 - - Off-the-plan

Manoora Unit 2 $225,500 $295 4.4% Secure gated complex, pool, a/c

Woree Unit 2 $178,000 $300 5.4% Gated complex, gym, pool

Cairns City Unit 2 $210,000 $230 5.6% Walk to shops, restaurants, esplanade

Edmonton House 3 $350,000 $400 5.9% NRAS lease in place until Nov 2021

Mt Sheridan House 3 $315,000 $340 5.6% Close to schools, shops, parks, highway

Kewerra Bch House 3 $380,000 $380 5.2% Close to shops, school, transport, a/c

Kewerra Bch House 4 $399,000 $380 4.9% Approx 20km north of Cairns CBD

Smithfield House 4 $449,500 $400 4.6% Older style timber home, pool

Smithfield House 4 $382,000 $375 5.1% Modern, tenanted until Jan 2015

Machans Bch House 8 $599,000 $800 6.9% Older style timber, 2-story, 4 tenants

Source: realestate.com

The increase in sales volumes reported in The Price Predictor Index published by Hotspotting is

starting to translate through to higher prices. Several suburbs have recorded double-digit growth in

their median house prices in the past 12 months, but the more mainstream result is moderate single-

digit growth, with a couple of locations still in decline.

Cairns remains a reasonably affordable market. Most suburbs have median house prices somewhere

in the $300,000s. Suburbs like Earlville, Manoora, Manunda and Woree are cheaper, with median

house prices at or below $320,000. Units are affordable in many Cairns suburbs, including several

with median prices below $200,000.

There is a high content of apartments in the Cairns market: the tables on the following page, listing sales in major Cairns suburbs in the past 12 months, record 1,356 house sales and 735 unit sales.

In 2013 we observed a marked rise in the number of unit sales, but with a drop in median prices in

many Cairns suburbs. This suggested that investors were buying units at bargain prices, a

circumstance that is often a prelude to a rising market. Figures released by the REIQ in December

2013 confirmed this, revealing a 10% median price rise to $215,000 over three months.

Annual price growth in units can be seen across most suburbs with eight suburbs exhibiting double-

digit gains, including Manunda at 30% and Woree and Holloways Beach at 27%.

12 TOP 10 BRISBANE & QUEENSLAND HOTSPOTS 2014-15 The other feature of the Cairns unit market is the high yields. Most Cairns suburbs with significant

unit markets have median yields above 7%, including Bungalow above 8%.

Vacancies across the Cairns market, according to sqmresearch.com.au, include 1.7% in postcode

4870 (Mooroobool, Edge Hill, Manoora, Parramatta Park), 2.6% in postcode 4878 (Yorkeys Knob,

Trinity Park), and 3.0% in postcode 4879 (Kewarra Beach, Trinity Beach, Clifton Beach).

The Cairns market can be summarised as follows:- UNITS No. of sales Median price 1-year Growth average Median

growth yield

Bungalow 27 $155,000 12 % 5 % 8.4 %

Cairns City 143 $410,000 19 % 4 % 7.0 %

Cairns North 180 $229,000 4 % 2 % 7.7 %

Earlville 28 $218,000 19 % 7 % 7.7 %

Edge Hill 27 $174,000 12 % 6 % 7.8 %

Holloways Beach 26 $178,000 27 % 4 % 6.8 %

Manoora 72 $146,000 -6 % 2 % 7.8 %

Manunda 78 $185,000 30 % 7 % 7.9 %

Mooroobool 21 $180,000 3 % 4 % 7.3 %

Parramatta Park 36 $216,000 2 % 3 % 7.1 %

Woree 35 $160,000 27 % 5 % 7.9 %

Yorkey’s Knob 62 $223,000 23 % 4 % 6.4 %

HOUSES No. of sales Median price 1-year Growth average Median

growth yield Bayview Heights 69 $397,000 10 % 6 % 5.5 % Bentley Park 134 $327,000 2 % 5 % 5.7 % Bungalow 32 $335,000 18 % 6 % 5.8 % Cairns North 29 $360,000 3 % 4 % 5.4 % Clifton Beach 65 $550,000 4 % 3 % 4.7 % Earlville 42 $320,000 -2 % 5 % 5.7 % Edge Hill 76 $458,000 14 % 6 % 5.1 % Gordonvale 112 $324,000 3 % 8 % 5.6 % Holloways Beach 36 $372,000 8 % 5 % 5.0 % Machans Beach 24 $348,000 4 % 6 % 5.0 % Manoora 45 $260,000 -3 % 6 % 6.5 % Manunda 57 $310,000 9 % 5 % 5.5 % Mooroobool 92 $322,000 3 % 5 % 6.0 % Mt Sheridan 176 $349,000 7 % 4 % 5.5 % Parramatta Park 29 $370,000 7 % 3 % 4.8 % Smithfield 160 $372,000 1 % 5 % 5.6 % Westcourt 40 $321,000 9 % 4 % 5.8 % Whitfield 79 $470,000 11 % 6 % 5.1 % Woree 36 $312,000 16 % 5 % 5.7 % Yorkey’s Knob 23 $360,000 15 % 5 % 5.6 %

Source: Australian Property Monitors – “No. of sales” is the number of unit sales over 12mths; “Growth average” is the average annual growth in median unit prices over 10yrs. Snr: statistically not reliable.


Future Prospects The Cairns revival is being underpinned by multiple factors. Tourism, which has traditionally been the key to Cairns prosperity, has revived – boosted by growing visitor numbers from China.

Infrastructure development, one of the greatest catalysts to economic and real estate growth, is

increasing, including upgrades to the airport, the sea port and the hospital. A new major resort is

planned for Yorkey’s Knob. Hong Kong billionaire Tony Fung plans to turn the Reef Hotel Casino

in Cairns into a world-class venue, independent of his proposed $4.2 billion Aquis Great Barrier

Reef Resort.

The Cairns Regional Council attributed the increase in planning

applications - which rose from 85 in late 2012 to 137 in November

2013 - to confidence generated by the Yorkey’s Knob project.

Speaking to the Chamber of Commerce in July 2014, Cairns

economist Bill Cummings said Cairns would ride any growth spurt

generated by the proposed Aquis development.

He produced figures showing the population of Cairns grew 57%

(around 40,000) in 12 years between 1984 and 1996. By

comparison, the Aquis development at Yorkeys Knob has been

tipped to add another 80,000 people to the Cairns population.

The number of hotel and motel rooms is tipped to increase

60% by 2027, but will still be short of the 1984-1996 boom

era, according to Cummings.

Master Builders Queensland has forecast "steady construction growth", particularly in Far North

Queensland, after 2013 finished with strong activity. Cairns housing approvals rose 61% from 36 in

January 2013 to 58 in January 2014. Carrin said: "There were 487 new dwellings approved in Cairns

in 2013, an increase of 7.3% on 2012."

These statistics confirm that activity in the construction industry is rising. Other evidence of future growth in Cairns was contained in a report on population growth from the

Queensland Schools Planning Commission. It indicates student numbers may rise 5,600 over the

next two decades. The paper says the Mt Peter area may need four new primary schools and a high

school by 2031 to keep up with the rising population in the area. The expansion of existing primary schools in the Gordonvale, Trinity and Woree areas may also be

necessary by 2021. - Highway upgrades

The plan to upgrade an alternative route to the often-flooded Bruce Highway has been hailed as a

lifeline for the Far North. It will take six years to complete, but sealing 155km of the Hann Highway

from Lynd Junction (320km south-west of Cairns) to Hughenden is seen as vital for the region. The

Cairns Post reported analysts have calculated the $45 million upgrade will provide benefits worth

$100 million for the tourism, cattle, mining and transport industries over the next 30 years.

14 TOP 10 BRISBANE & QUEENSLAND HOTSPOTS 2014-15 The Far North is crippled each wet season when flooding cuts the Bruce Highway for days at a time.

The upgrade is also predicted to open up new economic opportunities – such as the Gilbert River

Irrigation Scheme – and provide a viable alternative to the Bruce Highway.

The first stage of a $150 million upgrade to the Bruce Highway from Woree to White Rock was

completed in April 2014. Other plans include the next stage of the southern access corridor upgrade

in Cairns, which will widen the highway from four to six lanes between White Rock and Bentley

Park. Among the highest priorities on the Far Northern stretch of the highway is an upgrade for the

Babinda intersection and a $300 million duplication of the highway from Edmonton to Gordonvale.

- Airport

A 20-year plan for a $1 billion redevelopment of Cairns Airport was approved by the State

Government in March 2013. The vision for Cairns airport, outlined in 2011, includes a mining

industry hub, a shopping centre, a larger general aviation precinct and innovative airline agreements.

A report in The Cairns Post said 4.5 million passengers passed through Cairns Airport during

FY2014. This was a 2.6% or 114,700 increase on 2013.

- Tourism industry

A survey published in February 2013 named Cairns as the most popular Queensland venue for

overseas companies to hold meetings. The Queensland Business Events Survey found the Cairns

region hosted 102 international meetings, compared with 95 on the Gold Coast and 67 in Brisbane.

The Cairns Convention Centre was awarded the Gold Queensland Tourism Award for Business

Tourism in late 2013.

More recently, it was declared the 2014 World’s Best Congress Centre at the annual General Assembly of the International Association of Congress Centres in Berlin. The Convention Centre

competed against 170 venues in 54 countries for the award, which is measured by client satisfaction.

Cairns Convention Centre general manager Ross Steele said an estimated $85 million would be spent

by 15,000 delegates booking 145,000 hotel rooms throughout 2014.

Other events which mark an upturn in tourism prospects include:-

In November 2011 Cairns’ $15 million cruise ship terminal opened. During 2014, 52 cruise ships are expected to dock in Cairns including the Queen Mary 2. Cummings estimates average expenditure per passenger is $200 and crew is $70 each. Supplies and berthing fees for a small ship can amount to $42,000.

Yorkeys Knob marina has undergone a $1 million upgrade, enabling it to receive large cruise ships such as the Queen Elizabeth, which makes her first official visit to the Far North in 2015.

Architects behind some of the world's most impressive aquariums will design the $35 million Cairns Aquarium. Peddle Thorp Architects and Ellick & Partners Architects were awarded the contract to design the building, which is set to open in July 2016.

TOP 10 BRISBANE & $QUEENSLAND HOTSPOTS 2014-15 - Resources activity North Queensland Senator Ian Macdonald said forecasts from the Bureau of Resources and Energy

Economics showed export income was likely to rise in 2014-15 off the back of robust growth in iron ore and LNG export volume. He said BREE forecast resources and energy export earnings would increase 2.6% to $201 billion in 2014-15. “This is a further positive sign that our resources and energy boom is far from over as major

projects transition from the construction to the production phase,”"he said. Bremar Minerals director Brett Duck said bauxite and silica sand production was strong and he was

hopeful the State Government would help expand mining in the Far North, including uranium. In

September 2013 the Government approved a $1.4 billion Rio Tinto bauxite mine at Weipa. A gold,

silver and copper mine is proposed by Mungana Goldmines near Chillagoe on the Tablelands.

According to Cummings Economics research, as at September 2013 there were 2,350 FIFO workers

commuting from Cairns Airport to mine sites across northern Australia, Papua New Guinea and

Indonesia, plus another 250 in the process of being employed by BHP Billiton Mitsubishi Alliance in their Daunia and Caval Ridge mines.

Cairns FIFO co-ordinator Jeremy Blockey predicts this number could double to 6,000 in six years, resulting in $760 million in wages and salaries.

Some reports also suggest workers for coal mines were recruited exclusively from Cairns and south-east Queensland because those regions had high unemployment. - Steel exports Cairns Steel Fabricators struck a deal with Ports North to move 1,000 tonnes of steel worth $8

million to Manus Island in June 2014. The re-opening of the Manus Island Asylum Detention Centre

has provided opportunities within the construction industry, positioning Cairns as a potential supply

hub for Papua New Guinea. Cairns Steel Fabricators director Sean Adams said the company had hired another eight workers. He

said the business, which has 125 staff, had also been awarded a contract with PNG’s Ok Tedi mine

to provide steel in a deal worth $3 million. He said the steel will be shipped out in November.

The Manus Island deal follows the port authority working with Sims Metal Management to ship 3,000 tonnes of recycled scrap metal to Asia every three months.

- Developer incentives

Cairns Regional Council implemented a scheme in 2011 to encourage investment by offering

developers discounts on council fees and charges. Back then, the scheme discounted infrastructure fees for 32 construction projects, adding $43.5 million directly to the local economy.

To date, the program has supported regional construction projects valued at over $443 million, with $68 million worth of projects already completed or under construction. The current round, which is

focused on construction in the city centre, has seen 24 commercial and retail developments granted

discounts totalling $12 million.


- Naval base expansion

Plans to expand the city’s naval base were announced in June 2011. Expansion of HMAS Cairns was seen as an opportunity for future development and economic prosperity.

Former Defence Minister Stephen Smith launched the landmark Force Posture Review to examine

the need to move defence assets to the north and west of Australia to meet changing security

challenges. HMAS Cairns is considered an ideal candidate for expansion in terms of its strategic

location and potential to build on existing facilities.

The Ports North dredging plan, which is aimed at attracting more mega cruise ships, includes a wharf

expansion and developing two swing basins, including one almost directly opposite HMAS Cairns.

The State Government has declared the Ports North submission a "significant project", with plans to widen the outer channel by 50m, the inner channel by 85m and to deepen the inlet by up to 1.7m.

The project is estimated to cost between $80 million and $110 million but Tourism Tropical North

Queensland chief executive officer Alex de Waal says “improved access is expected to result in large

cruise ship numbers growing by 63 annual visits by 2025.

“(This will) inject $634 million into the regional economy and generate up to 679 extra flow-on jobs

per year by 2041,” he said.

Ports North is undertaking a dredging Environmental Impact Statement as at September 2014.

Warning

In the aftermath of floods and cyclones in recent years, many Cairns property owners have incurred

large increases in insurance premiums. The issue is of major concern for the Chamber of Commerce

and Industry Queensland. Shine Lawyers has launched an online petition calling for fair insurance

premiums. The Federal Government is expected to launch an insurance aggregator website for north

Queensland and also plans to publicly “name and shame” insurance companies that "gouge" their Far

North customers.

Investors would be wise to shop around for insurance and thoroughly research the fine print of

insurance policies.

TOP 10 BRISBANE & $QUEENSLAND HOTSPOTS 2014-15 Projects impacting on the Cairns market can be summarised as follows:-

Project Value Status Impact

Aquis Great Barrier $8 billion Proposed. It would create 3,750

Reef Casino Resort, 9 hotels with 7,500 Currently undergoing jobs in construction

Yorkeys Knob rooms, 1,200 units, EIS process. FIRB and 20,000 full-time

135 villas, shops, approval obtained in jobs when operational.

Tony Fung convention centre, March 2014.

2,500-seat theatre, 18- Negotiating with

hole golf course, reef Indigenous groups in

lagoon, aquarium. August 2014.

Cairns Airport $1 billion Approved.

redevelopment 20yr plan to redevelop State Govt announced the airport, including approval in March

a 2nd

runway and 2013 for the Cairns relocation of airlines Airport Land Use

to a new precinct. Plan.

Cairns Hospital $455 million Under construction. Includes a cancer care

upgrade (formerly An extra 168 beds, Due for completion in unit (patients

known as Cairns special care nursery, 2015. previously had to

Base Hospital) intensive care unit, travel to Brisbane or

birth suites, cardiac Townsville for

care, day surgery, treatment). Will

mental health, provide 531 beds in

pathology, aged care total by 2015. services.

Mt Emerald wind $380 million Proposed. Expected to create

farm near Tolga 75 large wind turbines Opposed by local and 158 construction jobs

to be built. environment groups. and 45 ongoing jobs.

Ratch and Port Bajool Undergoing EIS in September 2014.

Asia Pacific Energy $10 million Proposed. Would provide long-

Innovation Centre, Centre features a 200- Announced in April term jobs for 80 to

Port Bajool seat restaurant and 2012. (An attraction 100 people.

galleria showcasing in conjunction with

energy generation the Mt Emerald Wind technologies. Farm.)

Australian Institute $117 million Approved.

of Tropical Health Includes facilities in State Govt approved

and Medicine Cairns, Townsville $42mil funding in

and on Horn Island. Decr 2012; the

James Cook Federal Govt added

University $42mil in May 2014.



Mt Garnet Tin $125 million Proposed. Will initially create 50

Project, Has a resource base of At feasibility stage in jobs and later around

8-10 million tonnes to September 2014. 120 jobs.

(Consolidated Tin process about 1mpta

Mines) to produce 5,000

tonnes of tin in

concentrate each year.

New silica quartz $120–150 million Proposed. The Lighthouse quartz

mine; “Lighthouse Mine and produce MOUs were signed in mine has been valued

mine”, Mt Surprise high quality silica May 2013 to establish at $1.5 billion and

quartz sand 3 joint ventures and contains "rare and

Auzminerals Resource processing operations processing plants in extremely high-purity

Group in Australia and Melbourne, Nanjing lump quartz suitable

South-east Asia. (China) and for use in solar and

Singapore. electronics

manufacturing industries."

Watershed project, $100 million Approved. Will create 200 jobs

Mt Carbine – 6,000 tonnes of DNR granted mining during construction

tungsten mine concentrate a year, leases Decr 2013. A and 120 in operation.

worth $270 million, to feasibility study will

(Vital Metals JV with be shipped to Japan, be undertaken and

Japan Oil, Gas and the US and Korea. construction may start Metals Corporation) late 2014.

Port of Cairns TBA Proposed. The expansion is

shipping channel The project will Currently undergoing expected to create 215

expansion enable larger ships, EIS. The project construction jobs and

including Naval and requires approvals 370 flow-on jobs by

FNQ Ports cruise ships, to enter from State and 2026.

Corporation the port as well as Federal Govt, plus the

enabling future Great Barrier Reef

expansion of HMAS Marine Park Authy.

Cairns Navy Base.

Edmonton Industry $400 million Proposed. Located 14km south

and Business Park 212ha site; 250-bed of Cairns CBD, the

hospital, business & precinct has the

Pregno Family technology parks, potential to generate

Investments homemaker centre, 4,000 jobs.

tavern, recreation and

sport.



Bruce Highway

upgrades:

1. Woree to White $150 million Completed. Project is creating 400

Rock

Completed in April

jobs.

2014.

2. White Rock to $4.1 billion Approved. Improve safety, cut

Bentley Park Widen the highway Funding announced in

travel times, ease

from 4 to 6 lanes. State and Federal

congestion and

Budgets 2013.

3. Edmonton to $300 million improve flood

immunity along

Gordonvale Duplication of the Approved.

1,800km highway.

highway from Funding announced in

Edmonton to State and Federal

Gordonvale & Budgets 2013.

Babinda intersection

upgrade.

(Over 10 years, $500

Department of million will be spent

Transport & Main on "pavement

Roads rehabilitation", $334

million for new

overtaking lanes and

$200 million for

safety barriers.)

Cairns Aquarium $35 million Proposed. To create 150

and Reef Research 3-level facility on Construction to start construction jobs and

Centre 4000m2 block. 2015. $765,000 in 80 operational.

contracts awarded to Expected to attract

Local businessmen local firms Sept 2013. 500,000 visitors and

and private investors revenue of $16-20

million a year.

Adventure Waters $43 million Approved.

Water Park, An aquatic theme Approved by CRC in

Smithfield park on 7ha near the 2009. Has had delays,

proposed Aquis is now negotiating

Adventure Waters Resort. with Ergon for power

(Paul Freebody) supply.

Cairns Adventure $50 million Proposed.

Park A 4.3ha adventure Lease purchased

park featuring a 2009, finalising

Investors in Nature mega-zip line investors in August

opposite Cairns 2014.

Airport Aeroglen.



Woree residential & $175 million Proposed.

commercial 520 dwellings to Headworks begun; the

development house 1,000 on Woree 4-stage development

drive-in site. is awaiting approval

Sunset Drive Inn from CRC.

Babinda residential TBA Proposed. On the site of the

& commercial 25.5ha site on the CRC gave preliminary Babinda Sugar Mill

development Bruce Highway; will approval in May 2013 that closed in 2011

include 25 houses, for a mixed-use and was demolished

MSF Sugar offices and light development. January 2014 industrial.

Ella Bay Integrated $1.4 billion Approved. The development is

Resort, 88km south Transform a 450ha Coordinator-General’s likely to generate

of Cairns. cattle station into a and EIS approval $256 million p.a. in

resort and residential granted in November expenditure by

Satori Ella Bay eco-community over 2012. visitors staying in the

15 years. Includes 5 region, and $50 mil in

resorts, 540 homes; a State Government

village precinct; 18- taxes and duties.

hole golf course and

swimming lagoon.

Sheraton Mirage $200 million Proposed. 200 construction jobs

Port Douglas To be upgraded to a Expected to start will be created.

upgrade six-star hotel with a construction in 2014.

new golf course.

David Marriner/the

Fullshare Group

Bluewater master $250 million Under construction. The hotel will create

planned community Includes a $10mil Work on the hotel 60 construction jobs

hotel, 135 residential began July 2014 and and 30 operational

Brookfield Residential lots, retail and a new is expected to be jobs.

Properties road between Trinity completed in 2015. Beach and Bluewater.

Edmonton Town TBA Proposed.

Centre master plan Shopping centre, Council approved “in

residential area, principle” support in

community facilities, June 2012.

showrooms, dining

and entertainment,

offices and shops.

Residential & $200 million Proposed.

commercial tower Mixed use: office, Site purchased

development, commercial, retail & February 2014.

Spence Street residential.

Aspial Corp



Retirement village, $100 million Approved. About 60 sub-

aged-care facility & Includes 180 villas Construction will start contractors and tradies

residential estate, and a 90-bed aged after sale of other would be hired with

Kewarra Beach care facility. assets; unlikely to aged-care facility

occur in 2014. employing 120 full-

Sean Howard time staff at its peak.

Taylor Point TBA Approved.

residential devt 19 houses to be built Council approval in

on 18ha. June 2013.

Robert Prettejohn

Rebuilding Machans $10 million Approved. The road and

Beach seawall A 1.3km seawall will Approved by CRC in waterfront homes will

be rebuilt 20m further January 2014 and be better protected

Cairns Regional out and in three expected to take 3 during rough sea

Council – JDS Group stages. years to build. conditions, especially cyclones.

Masters Home $25 million Under construction. All workers and sub-

Improvement Three buildings will Completion expected contractors will be

Centre, Portsmith house 10 tenants next by the end of 2014. hired from the Cairns

to the existing area.

Laurence Lancini Masters Home

Improvement Centre.

Redlynch Central $20 million Under construction. Expected to create

shopping centre Expansion includes Due for completion 250 construction jobs

expansion Coles and Liquorland, late 2014. and 100 full-time an additional 10-15 retail jobs.

Keir Constructions speciality shops.

Bunnings $43 million Approved. 210 staff will be

Warehouse A new store will open employed. opposite Masters.

Shopping centre, $50 million Approved. Will create 500 jobs Smithfield New retail centre of Council approval in in construction.

19,400m2. Includes Feb 2013. An appeal

Trinity Park supermarket, specialty was lodged by Dexus

Investments shops, hardware store. Funds Management,

the owner of the

existing shopping

centre at Smithfield, July 2013.



Cinema complex, TBA Approved.

Smithfield 5 cinemas, restaurants Approved by CRC.

gym, offices, next to Work to begin some

Smithfield Shopping time in 2014.

Centre.

Cairns Performing $94 million Proposed.

Arts Centre (Formerly $240 mil Council approved the

(Previously known 1,100-seat theatre, ‘Cairns Cultural

as Cairns Cultural open air plaza and car Precinct’ Dec 2011.

Precinct) parking.) But state and federal

funding withdrawn in

Cairns City Council June 2013. Funding

still to be sourced.

Mt Peter Catholic $10 million Proposed. Intend to build a Prep-

School Funding still to be to-Year 12 Catholic

sourced. Hopes to College at Mt Peter.

Catholic Education open the new facility in 2016.

Training centre, $15 million Proposed. To be used as a base

West Barlow Park Training centres for Sports, government for leading soccer,

various sporting and industry bodies union and league

codes. To include approved the concept teams.

gym, medical in March 2013.

facilities, classrooms

and accommodation.

Tobruk Pool $26 million Approved.

redevelopment Expected to begin late

2014 and finish late

CRC 2015.

cairns qld (far north queensland)...improved air access from china to cairns has seen chinese...

Documents