Far-north Queensland tourism development gains approval
A billion-dollar tourism development earmarked for far-north Queensland is set to become the ...
A billion-dollar tourism development earmarked for far-north Queensland is set to become the biggest of its kind in the state - attracting commercial property investment in the Innisfail area as a result.
Welcoming federal approval for the project yesterday (December 19), acting premier Jeff Seeney said the $1.4 billion initiative at Ella Bay is a major boon for the state economy.
"This is great news for Queensland and opens the way now for the proponent Satori Ella Bay Pty Ltd to obtain the necessary approvals for this major project to proceed," Mr Seeney explained.
"The development is likely to generate $256 million a year in expenditure by visitors staying in the region, and $50 million in state government taxes and duties."
With the project comprising three resort precincts, a retail village, an 18-hole golf course and four residential estates, investors looking for commercial property in the region may be attracted to the area.
Those on the hunt for residential property in far-north Queensland may also want to take note of the tourism initiative, with it including a number of private real estate developments.
Premier Campbell Newman said it will have significant economic benefits that will boost local industry and business.