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Mining billionaire Clive Palmer has vowed to spend $100m redeveloping his Coolum Resort on Queensland s Sunshine Coast after it fell into disrepair soon after he bought it a decade ago. The Palmer Coolum Resort redevelopment will include replicas of the Wonders of the World and famous landmarks including a full-size Trevi Fountain. Around 300 premium studio, two and three bedroom apartments will be refurbished in the luxury upgrade which will also feature seven restaurants and the total renovation of the Village Square at the heart of the resort which was once one of Australia s premium luxury enterprises. In a statement this morning Mr Palmer said 100 tradespeople and construction staff were already on site at the resort near Noosa, with a further 100 expected to be employed on the project by mid-year, ahead of an anticipated opening of stage one in the second half of 2022.
Clive Palmerâs neglected Coolum Resort in for a $100m revamp
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Billionaire former politician Clive Palmer is back in the tourism game after announcing the $100 million redevelopment of his eponymous resort on Queenslandâs Sunshine Coast.
Work has already begun and up to 200 workers are expected on site by June at the Palmer Coolum Resort, which is scheduled to reopen in phases in the second half of 2022.
Billionaire Clive Palmer has announced he is investing $100 million in his Coolum Resort, which has been closed since 2015.Â
Attila Csaszar
Once the most prestigious place to stay on the Sunshine Coast, the former five-star resort was bought by Mr Palmer in 2011 from Lendlease for an undisclosed amount.
It s great, good on him, Mr Dunn said. If he does what he says he has planned then it would be great. Let s see if this actually happens. Mr Palmer purchased the resort in 2011 but in 2015 it was closed, putting 600 staff out of work and shareholders of 144 villas in limbo. Clive Palmer has announced a $100 million rejuvenation of the mothballed Palmer Coolum Resort. Picture: Patrick Woods. In November last year the former Fairfax MP agreed to pay 310 unit holders for their quarter shares in a class action settlement worth $21 million. It brought a long-running court dispute to an end and essentially gave Mr Palmer total control of the resort.
 Mr Palmerâs most expensive mansion is $12m at Hedges Avenue, Mermaid Beach. The former politician and billionaire mid week announced his intention to put $100m into revamping his dilapidated Coolum dinosaur Resort, after having reportedly paid off about $21m to villa residents he d been entangled in a bitter dispute with for over eight years. But that hasn t stopped him from continuing to play the high-end residential market in the meantime, with his list of mansions and residential properties spanning the Gold Coast, Brisbane, the Sunshine Coast and the far north of Queensland. The Jesmond Road, Fig Tree Pocket, home he bought off his neighbour for $5m.