Esplanade icon Caravella Backpackers site could be transformed to 14-storey complex

It has been a Cairns institution for 30 years but the time is ripe for a developer to transform this Esplanade property.

A 14-storey apartment complex could be built at the site of Caravella Backpackers on the Esplanade, which has just hit the market.

Caravella Backpackers was damaged by a fire in a room last week and police are investigating, treating the incident as suspicious.

Colliers International agent Jay Beattie said just days after hitting the market, the property had attracted interest from developers.

Caravella Backpackers on the Esplanade is for sale with Colliers with expressions of interest closing on December 2. Picture: supplied.

“Caravellas has been a bit of an institution in Cairns for 30 years but what we are pitching is the last opportunity for a substantial development on the Esplanade,” Mr Beattie said.

He said there was potential for apartments, a resort, hotel, short term accommodation or retirement facilities.

The site could hold a mixed use 14-storey development up to 46m high under the current zooming in the Cairns Planning Scheme, Mr Beattie said.

Dual street frontages offered the opportunity to capitalise on the direct water views to the east overlooking the Esplanade while having vehicle access to the west along Abbott St, he said.

The adjoining properties are 149-151 Esplanade, 153 Esplanade and 132 Abbott Street.

“Or it could continue to operate as a going concern with increased demand likely when international borders re-open,” Mr Beattie said.

Former A-League player Zenon Caravella at Caravella Backpackers on the Esplanade. Picture: Brendan Radke

“There’s heightened demand for rentals and no real residential development since the GFC in 2008 in the CBD, this is an ideal opportunity for a market starving for new product.

“It would appeal to investors and foreign investors who could buy brand new off the plan.

“We are very encouraged by initial inquiries from people experienced in high density development, it may bring a new style of amenity that Cairns hasn’t seen for well over a decade.”

Caravella Backpackers is owned by former A-League player Zenon Caravella who returned to Cairns at the end of his professional football career to manage the family business.

The adjoining properties in the parcel of land are 149-151 Esplanade, 153 Esplanade and 132 Abbott Street. The properties have a combined area of about 2,543sq m.

Expressions of interest close on December 2.

Originally published as Esplanade icon Caravella Backpackers site could be transformed to 14-storey complex