Coast Entertainment Holdings Limited (ASX: CEH) has announced updated independent valuations for its Dreamworld and SkyPoint properties, reflecting significant increases in fair value. Coast Entertainment Holdings Limited is a prominent operator of theme parks and attractions, including Dreamworld and WhiteWater World, and the SkyPoint observation deck, all located in Queensland. The valuations follow recent milestones, most notably the preliminary development application approval for the company’s 55-hectare Coomera landholding, which allows for expanded permissible uses.
The independent valuation by CBRE Valuations Pty Limited, as at 31 July 2026, determined the fair value of the Dreamworld property to be $295.9 million. This figure incorporates an immediate uplift in gross value of $52.0 million, compared to the pre-approval valuation, which is attributed to the Group’s surplus landholdings adjoining Dreamworld and WhiteWater World. Additionally, the valuation identifies a further potential uplift of $38.5 million that could be realised through a higher and better use of the car park area, contingent on the relocation of existing car parking facilities. The stated fair value is on a gross basis, excluding transaction costs, costs for road/service access, in-filling, and car park relocation, the quantum and responsibility for which are yet to be determined.
Concurrently, Coast Entertainment Holdings also received an updated independent valuation for its SkyPoint property from CBRE, effective 30 June 2026. The Directors have determined the fair value of the SkyPoint property at $51.7 million. This valuation represents a $14.7 million uplift in fair value since the last independent valuation conducted in December 2023. The company noted that, under its accounting policy, Dreamworld and SkyPoint assets are carried at cost, meaning these valuation uplifts are not expected to be recorded for these assets in the company’s financial statements.
The announcement was authorised by the Board of Coast Entertainment Holdings Limited.
