Landmark development site purchased by Townsville casino owner
The owner of Townsville’s ‘The Ville-Resort-Casino’, Chris Morris, has reportedly purchased the landmark development site opposite from his own resort in what will likely be a $10 million deal.
It is believed that the 2.9ha site, will be used to develop more accommodation for the resort, to provide land to stage big outdoor events and for car parking. It’s situated perfectly at the end of the peninsula on which the casino is built.
Mr Morris purchased The Ville Resort-Casino for $70 million in 2014 and confirmed he had entered into a contract to buy the land but declined to comment further.
“I’m bound by a confidentiality agreement,” Mr Morris told the Townsville Bulletin.
A $30 million redevelopment is currently underway at The Ville to provide three new restaurants, a poolside function space for 700 people, an infinity-edge pool with private cabanas and swim-up bar and an elevated deck connecting the pool to the hotel’s lobby level.
According to sources, the work has meant land at the front of the resort previously used for open-air events will be no longer available and so the property needed extra space.
Even before the expansion work began, the 200-room resort needed more accommodation and car parking.
The price for the land is believed to be around the $10 million mark – well short of the almost $50 million paid by former Gold Coast developer Resort Corp for the site from Consolidated Properties at the peak of the property boom.
The site was marketed by Colliers International, who declined to comment but Sally Elliott of Smith and Elliott Real Estate who sold units off the plan for the Saltwater project said it was a signature site deserving of a spectacular development.
“It’s a signature site for Townsville and North Queensland and needs a person with a lot of vision and an overdose of testosterone,” Ms Elliott said.