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Coast Entertainment Raises Valuations of Queensland Properties on Development Potential; Shares Up 4%

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Coast Entertainment Holdings (ASX:CEH) raised the fair value of its Dreamworld property to AU$295.9 million and SkyPoint to AU$51.7 million, following independent valuations by CBRE Valuations reflecting expanded development potential, according to a Thursday filing with the Australian bourse.

Dreamworld's valuation includes an immediate AU$52 million uplift from expanded development uses, while a further AU$38.5 million could be added through a potential car park redevelopment, per the filing.

SkyPoint's fair value rose AU$14.7 million from its December 2023 valuation, the filing added.

The company's shares rose around 4% in recent Thursday trade.

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