New Shareholders and Directors to drive expansion of Coffs Harbour’s The Big Banana

Aiming to expand The Big Banana Fun Park as not only a Coffs Harbour attraction for short stopovers, but as a major tourism destination in its own right, its owners have recently released new shares to “sophisticated and professional investors”.

To date, 3.4 million additional shares have been issued, raising over $4.1 million to assist with the implementation of the attraction’s Master Plan and Capital Expenditure program.

The new share issue has changed the ownership of The Big Banana, which, over the last 17 years has been solely owned by Canberra-based company Village Building. During this time, it has expanded the attraction with the addition of its waterpark, Giant Slide, Laser Tag Arena, Mini Golf Course and a 4D Ride Simulator - generating significant growth in revenue and visitation.

Implementation of the Master Plan - designed to guide and accelerate the transformation of the ‘Big Thing’ over the next 10 to 15 years is already underway with the first phase of the waterpark expansion (involving the introduction of a Duelling Raft Ride and Wading Pool with additional smaller rides and water play equipment) and approval of a Development Application for 40 Eco Tourist Cabins, the majority having ocean views.

Later, there will be further rides and attractions, food and beverage offerings and access/connectivity upgrades added throughout the Master Plan, along with a 4 ½ star hotel and the redevelopment of the Hilltop Restaurant building.

Two additional Board Directors from the North Coast region have recently been appointed to The Big Banana Board, with a third appointment expected to be made in early July. This is in addition to the four existing Directors previously appointed by The Village Building Company.

The newly appointed Directors are:

Tourism Industry Leader Cameron Arnold, whose career within the tourism and hospitality industry spans over 35 years.

Arnold has held senior management and executive roles in hotel operations, owned multiple tourism businesses, founded the revolutionary ‘pop-up hotel’ glamping business ‘Flash Camp’ and represented the industry on multiple boards and advisory groups.

In 2016, he was awarded the highest individual accolade for the NSW Tourism Industry for Outstanding Contribution by an Individual.

Katrina Adams, co-founder and Director of regional North Coast child care business Community OOSH Services, which delivers five separate services totalling 600 places each day. She has also held positions in the National Childcare Accreditation Council, being responsible for administering National Regulations and Compliance in Childcare Services across Australia.

Limited Shares are still available to sophisticated investors. A sophisticated investor as per section 708(8) of the Corporations Act is a person who provides a certificate from a qualified accountant certifying that the person has net assets of at least $2.5 million or a gross income for each of the last two financial years of at least $250,000.

Images (from top): Big Banana's Big Slide, Alpine Coaster, the concept for its Summit F&B outlet and its Play Pool. Credit: The Big Banana.