Cairns real estate: Caravella Backpacker Hostel could make way for Esplanade hotel
A prime piece of Cairns real estate, owned by a former A-League footballer, has failed to attract a buyer but one Cairns identity has a great vision to revive it.
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A PRIME piece of real estate in Cairns with potential for a 14-storey apartment or hotel has sat on the market unwanted for more than two years – but a Cairns councillor has a great vision for it.
In its heyday in the 1980s, when Cairns was a bohemian beach town before world class hotels arrived, Caravella Backpacker Hostel was a highly-rated and award-winning accommodation choice.
It is owned by former A-League football player Zenon Caravella, who declined to comment.
It is on a whopping 2,543sq m land parcel with more than 100m of street frontage.
Cairns Regional Council Division 5 Cr Amy Eden said the site would be ideal for new accommodation that was family-friendly and catered to all abilities.
“It is an absolutely prime location, and it would be wonderful to see something designed that is quintessentially Cairns, factoring in the sea breezes and built with sustainability in mind,” Cr Eden said.
“Because of the location, it lends itself to being a place for families – it is across the road, really, from Muddy’s playground, it is almost in the front yard, so it could be really family friendly.
“If it was made accessible for everyone that would be great – it’s a beautiful location.”
Its zoning favours development outcomes including residential, retirement facility and a hotel or short-term accommodation – and it is in a rare zone where there is a maximum building height of 14 storeys.
The property went on the market in March 2020 with Knight Frank, then Colliers, and has now been listed with industry heavy hitters JLL.
Expressions of interest are sought with industry sources saying $6m is about the right mark – a price some experts say is unrealistic.
High net worth developers are reportedly dissuaded from building an apartment complex in Cairns because construction costs are 30 per cent higher than Brisbane.
It is begging for a visionary like Syrian billionaire Ghassan Aboud, who outlaid $400m on the Crystalbrook trio of hotels, which have proven to be a roaring success.
It comprises two blocks – 149-153 Esplanade and 132 Abbott St.
Adjacent to Cairns Private Hospital and close to Cairns Hospital, it is not difficult to see how the property could become slick apartments for medical professionals.
A blaze in a room on the top floor last November was initially treated as suspicious but police have confirmed inquiries have concluded, and there were no suspicious circumstances.
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Originally published as Cairns real estate: Caravella Backpacker Hostel could make way for Esplanade hotel
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