Village Roadshow to buy Aussie World

Village Roadshow has signed a conditional contract to acquire Sunshine Coast attraction Aussie World from current owners Timevale. Village will pay a total of $15 million for the 24 hectare property of eight amusement rides, retail outlets and the Ettamogah Pub on the Bruce Highway and plans to expand the site with the development of a water park on the property.

Using its experience at Wet 'n' Wild Waterworld, Village plan to invest a further $60 million in a state-of-the-art water park, with 10 rides including an uphill water coaster, with the park potentially opening as soon as September 2009.

Explaining the acquisition, Village Roadshow Chairman John Kirby stated "our vision is to construct a water park on the property which will provide the Sunshine Coast residents and tourists with the latest water based rides and attractions", adding that the group intends to offer existing staff at Aussie World employment under the new management.

It is unknown what will become of the dry attractions that exist at Aussie World, some of which are rare historical rides, such as the Mad Mouse - one of only a handful of remaining wooden wild mouse style roller coasters.

The conditional element of the buyout is based on whether Caloundra City Council gives their development application the go-ahead.