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Village Roadshow Announces Village Roadshow Theme Parks Division Proposes Sale and Long Term Leaseback

07 Sep 2017  |  16:48:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Gold Coast Land Sale and Leaseback

Village Roadshow announced that its Village Roadshow Theme Parks division ("VRTP") is proposing the sale and long term leaseback of 154ha of iconic freehold land on the Gold Coast. The site includes the land on which Warner Bros. Movie World, Wet n Wild Gold Coast, Paradise Country, Australian Outback Spectacular, and Village Roadshow Studios are located. In addition, Australia's first Topgolf venue is under construction at the site, and development approval is in place for a nine storey hotel. The landholding offers direct Pacific Motorway access and visibility, and is situated 20km from Surfers Paradise and 50km from Brisbane. The key terms of the long term lease agreement for the land contemplated includes term of 30 years, commencing rent of $6.2m from 1 January 2018.

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