Skeeta

Dreamworld reviewing its master plan.

83 posts in this topic

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In early 2017 Ardent initiated a process to review its 2015 Master Plan for the Dreamworld precinct. Dreamworld is located on prime real estate adjacent to the new Coomera town centre and core infrastructure.

 

This review is considering a number of important factors including: (i) the impact of recent events at Dreamworld; (ii) the feasibility of rezoning parts of the site for alternate uses; and (iii) analysis of the existing Dreamworld footprint to identify potential opportunities for unlocking value.

 

As part of this review Ardent has appointed a town planner to assess the feasibility of rezoning parts of the precinct.  Ardent has, and will continue to, engage with third party developers to discuss potential development opportunities and timing for any redevelopment within the precinct.

 

Notwithstanding the review of the Master Plan, Ardent will continue to invest in Dreamworld to facilitate its recovery and ensure it remains one of the Gold Coast’s key tourist attractions.

(Taken  from Ardent ASX release)

 

 

Does "Notwithstanding" mean if Ardent will make more money from developing the land and closing DW they will go that way?

 

We also know DW were looking at a 3rd party developer to build a hotel before the events of last year.  Maybe DW are looking at going down that path again.

 

 

Edited by Skeeta

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Yeah, makes it sound like the town planner comes back and says "hey if you close the park and sell it to a developer and you can pay off all your debts and open up another 50 Main Event centre in the US" then they'll consider it. 

Im hoping it means clearing the land around the studios and developing it into an entertainment precinct as was the original plan, put an AMF/M9, some restaurants and maybe a hotel between the park and Foxwell

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Anyone else think this has a bit of a Sunway/Wonderland feel to it? While I firmly believe VRTP are genuinely committed to the Gold Coast and passionate about theme parks and tourism (well, duh!), it is pretty obvious Ardent Leisure will do whatever it takes to make the quickest buck for the smallest outlay, regardless of assurances. It might all depend on land values and rezoning opportunities (or obstacles) in the end.

Edited by GoGoBoy

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23 minutes ago, Skeeta said:
Does "Notwithstanding" mean if Ardent will make more money from developing the land and closing DW they will go that way?

Short answer: Yes.   Long answer: Yeeeeeeesssssss.

Ardent are not in the theme park business.  They own a theme park, but it isn't their core platform for profit.

From the article: "There were no plans to close the park or redevelop it into residential buildings, she said."

They just have a Town Planner doing a feasibility study and making a plan for what such plans might look like, if they were to plan the thing they're currently not planning to do.

Looks like they're not in a hurry to redevelop Goldrush or anything north of it.

 

Me being a bitch about it aside, I wouldn't be surprised if they concluded that there was value in building a multi-level shopping mall/hotel in the carpark and calling it 'Dreamworld Plaza' or something, and then having the Theme Park be the anchor of it.  Kind of like how Lotte World has Lotte World Mall, Avenue L, and the 123 floor Lotte Tower (offices and hotel) in Seoul.

I hope they don't reduce the footprint of the park itself though.  Land-locking Dreamworld from any future expansion would be a mistake.

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1 minute ago, wikiverse said:

Looks like they're not in a hurry to redevelop Goldrush or anything north of it.

If that is the case then I wonder why DW have been advertising for a project manager.

In March I came across this one " Based on site at Dreamworld, we have a rare opportunity to join the ... Preparation of tender/ contract documentation "

Only a few weeks ago I came across this one.

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8 minutes ago, wikiverse said:

From the article: "There were no plans to close the park or redevelop it into residential buildings, she said."

They just have a Town Planner doing a feasibility study and making a plan for what such plans might look like, if they were to plan the thing they're currently not planning to do.

Well said. "No plans" is a politician's answer, which invariably means it's happening.

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Considering the Coomera Town Centre is going to likely feature a few entertainment and dining options, I'm not sure we'll see much from DW to try and do their own offerings. Wasn't Dreamworld going to directly connect to this, with a separate park entrance?

I'm not sure what the future has in store for DW and Adrent, but I've seen Ardent do a few things that seem to suggest they don't care about long term profits as much as short term gains (then again, most public companies think this way it seems).

Edited by ash.1111

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Yeah there were plans for a new entrance to open at the Blue Lagoon area. I do hope that if they do sell land off, that they don't sell land that's right up against the current park boundary, as it is nice to go around the edge of the park and just see bushland. It would ruin the feel if you could see infrastructure. And of course I definitely wouldn't want to see the park close down, it means way to much to a lot of people. And I imagine that even those people who have said they wouldn't visit the park again, or not for a long time after what's happened, would even be sad to see it go.

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According to the Brisbane Times, only just over half of the land Ardent owns at Coomera is actually occupied by the theme park.

That being the case, if I owned that land, knowing its huge and increasing value (even ignoring the current business issues due to the tragedy) I would certainly be looking at what better use the rest of the land (not occupied by the theme park) could be put to.

I cautiously hope that money made from sale / development of the remaining land would be used to improve Dreamworld. I would also hope that at least a portion of the excess land would be retained as part of the theme park, and some of the money used to expand the park into that extra space.

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Areas marked DW is also owned by DW.

When DW sold Area 51 the original contract of sale included Area 52.

Once DW tried to separate the land from the current Title the Queensland Government requested DW hand the land either side of the creek over to them.  DW ended up only selling Area 51 to the developer taking the creek out of the transaction. (Area 52 marked in yellow)

The area the Government wanted to resume is roughly marked in green.  If DW was to try and add this land to a separate Title again, I can’t see why the Government wouldn’t ask for the land again.  (That’s one of the things I would assume the Town Planner would be considering).

Where I have written, GUM is the area DW currently grow the Gum Trees to feed the koalas.

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3 hours ago, ash.1111 said:

Wasn't Dreamworld going to directly connect to this, with a separate park entrance?

I would call it a side gate entry.  Original plans for the major new entry was for when DW was going to build the Town Centre many moons ago.

Now DW has nothing to do with the Town Centre I don’t think the new owners would be too happy DW guest taking up their customer’s car parks.

If the side gate does happen it will be for the train station.  Once the light rail is finished linking Surfers to Helensvale and because Helensvale is already linked to Coomera via heavy rail you might find Surfside bus will stop servicing DW all together.

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Other than the excess land being used for the most obvious, and perhaps easiest (but in my opinion the most boring) option of residential development, here are my thoughts on an alternative use that could actually complement Dreamworld.

This assumes Ardent retain ownership of at least some of it.

A holiday resort with direct access into the theme park. Accommodation could consist of either one or more hotels, freestanding chalets, or a combination of both. They could go down the path of cheaper things such as ecotents, but personally I don't think those would suit the type of vibe I have in mind, or enhance the value of the park.

The resort would also contain things like swimming pools, or perhaps it might be possible to link it directly to Whitewater World, which could remain open exclusively to resort guests in the evenings after Dreamworld closes. Before implementing this they should obviously look closely at what can be learned from Sea World and its resort (both positive and negative).

Also the resort could include entertainment, leisure, and dining options which might also be open to non-residential guests. A day spa would be another major attraction.

An area within the resort could be set aside as a nighttime fairground, with some of the current "spin & spew" rides from the theme park moved into there to make way for bigger and better attractions. This would be a sort of "special night time mini-Dreamworld" exclusively for resort guests to enjoy.

Dreamworld could also explore whether part of the land could become a Legoland Discovery Centre. If desired or necessary they could sell that part of the land to Merlin (who operate the one in Chadstone, Melbourne) so as to avid any potential licensing issues. This would tie in nicely with the Lego store at the front of Dreamworld.

Another use that may be worth considering for part of the land is a planetarium which provides both educational services to schools and tertiary institutions, and also fun information sessions for the general public.

 

As well as the above, a portion of the land could be sold to a residential developer, with conditions attached such as no high rise developments (so as to preserve the atmosphere within Dreamworld). This would help to pay for the development of the above, as well as future development / expansion within Dreamworld itself.

Done right, all the above could ultimately put Dreamworld in a much better position than it is today.

Edited by pushbutton

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4 minutes ago, Skeeta said:

@pushbutton Don't forget the hotel/residential project 100m south of DW/WWW might get the green light soon.

 

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I am aware of that one. Not a fan if it's as high-rise as it looks in that image, but yes it may happen. However I still think it's worth Ardent exploring whether having a Dreamworld resort is viable.

Edited by pushbutton

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1 hour ago, Skeeta said:

 

If the side gate does happen it will be for the train station.  Once the light rail is finished linking Surfers to Helensvale and because Helensvale is already linked to Coomera via heavy rail you might find Surfside bus will stop servicing DW all together.

Post Helensvale Light rail the current plan from TransLink is to delete the TX1/2/3 and roll all the resources into a high frequency route going Helensvale, WnW, MW, DW, Coomera and vice versa as the new "TX7".

They are not gonna eliminate bus services to DW skeet, lets be rational. 

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1 hour ago, Gazza said:

They are not gonna eliminate bus services to DW skeet, lets be rational. 

@Gazza I was being rational. 

Translink have said about the lightrail. "With frequent services soon to be running along the Gold Coast Light Rail Stage 2 extension to Helensvale, we won't need to run buses along the same corridor". (you will have to get off the lightrail and onto a bus at Helensvale)

That whole post I was talking about side gate giving direct access to the train station.  Of course I don't think the buses will be replaced by a train without direct access to DW from the station.

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