Category: Tourism & Leisure
Client: Client: Centrecorp Aboriginal Investment Corporation Pty Ltd
Timeline:1989 to 2010

Initial Brief

Centrecorp is a joint enterprise of the Central Land Council and Alice Springs Aboriginal groups. MLCS acted for them for the initial project, the first and second expansions, the negotiation of further equity and we continue to act for them and the co-owners in an executive role.

Highlights

  • Kings Canyon Resort began as a $17 million resort at Kings Canyon in the Northern Territory in 1991. MLCS secured joint venture equity funding from the Aboriginal & Torres Strait Islander Commercial Development Corporation (now Indigenous Business Australia) and organised initial and long term debt funding. The Northern Territory Government contributed significant infrastructure. The initial mandate required MLCS to negotiate Resort Management Agreements with AFH and then All Seasons, as well as conducting Preliminary and Final Demand feasibility studies.
  • In 1994, the Resort reached maximum occupancy and MLCS project managed the $3 million expansion program, including the arrangement of equity and debt restructure.
  • In 1997/98, MLCS negotiated the transfer of equity and management rights from a joint venture partner (46% equity) to Ayers Rock Resort (Voyages). Further equity was also injected to clear debt.
  • By 1998, the Resort had again reached maximum occupancy and embarked on a $5 million expansion. MLCS arranged funding for this second expansion.
  • Mark Lewis was retained by the Resortís owners, as an Executive Officer to monitor the performance of the Resortís management, attend to funding arrangements, and all other matters concerning the Resortís owners up until its sale in 2010.
  • Attended to all post matters since sale, to formal liquidation at end 2012.
  • Acquired Chifley Alice Springs as part of the sale of Kings Canyon Resort.
  • Attended to all acquisition matters and assisted with the initial operations set up. Finished Executive Officer role in September 2011.
  • Joined Board of Property in October 2012.