April 20, 2016
A recent focus of our expansion has been on acquiring prominent assets in locations such as the Gold Coast and North Queensland that are well positioned to benefit from a rebounding tourism sector.
This started with our purchases last year of the Port of Airlie Maritime Terminal the gateway to The Whitsundays region and then ‘The Rocket’ A-Grade commercial office tower on the Gold Coast. This strategy is set to continue with our forthcoming acquisition of the landmark DFO retail centre in Cairns.
DFO Cairns sits on a huge 8.15ha site just outside the Cairns CBD, has a total floor area of approximately 25,000sq m and parking for more than 1,500 cars. It is the only DFO outlet centre north of Brisbane and is home to an array of national and international tenants.
Our strategy of buying properties in North Queensland and on the Gold Coast that will benefit strongly from rebounding tourism fundamentals has been well supported by investors, with the DFO capital raising oversubscribed within just hours of the Information Memorandum being released.
These properties are very well positioned to enjoy the flow-on benefits of strong future tourism growth, which is already evident in rising visitor numbers, increased direct flights from China and major redevelopments of both the Cairns and Gold Coast airports.