Today Village Roadshow submitted a Development Application for a $70 million Wet'n'Wild Aussie World, following the earlier announcement of the conditional acquisition of the Sunshine Coast amusement park.

Village Roadshow has acquired the 23 hectare Aussie World property on the condition that they receive the appropriate approvals for the planned world-class water park.

Citing the need for more "iconic entertainment" on the Sunshine Coast, Village Roadshow, who own and operate the Gold Coast's Sea World, Warner Bros. Movie World and Wet'n'Wild Water World, as well as a host of other attractions around Australia and the world, the $70 million theme park hopes to initially achieve at least 550,000 guests each year. WhiteWater World, a $56 million water park on the Gold Coast build by Dreamworld owners Macquarie Leisure Trust, set its sights at 450,000 in its first year, piggybacking off the success of the adjacent established theme park.

CEO of Warner Village Theme Parks, Village Roadshow's wholly owned theme park organisation, John Menzies said, "People associate us with our 30 years of experience in building and operating quality water parks and theme parks - they have told us they support a park on the Aussie World site and want rides for families and thrill seekers."

Village Roadshow's plans call for the attraction to be entirely water self-sufficient.

A Sunshine Coast sister to the Gold Coast's Wet'n'Wild Water World has been in the works since at least 2004 when it was announced by Warner Village Theme Parks. The plan was met with no new official developments until May of this year when the Aussie World acquisition was announced. WVTP has not set any formal timeline for the development, but endeavour to have the water park operational as soon as is physically possible given the necessary approval process.

The future of Aussie World's existing theme park attractions is unknown. Its signature attraction is its Wild Mouse roller coaster, one of only a handfully of its kind left in the world.