Coffs Harbour fun park The Big Banana is set to grow even more after owners Village Building Co. announcing a 20-year master plan backed by a $50m investment.
The investment comes more than 50 years after the landmark first opened in 1964.
The fun park owns 15 hectares of unused land which will be used to add new rides, build 50 cabins for holiday accommodation and to relocate existing rides and attractions.
By 2023 the park plans to have finished construction on accommodation cabins, the expansion of the water park, a new plantation roller coaster, a demolition derby ride and a brewery and restaurant.
Beyond 2023, plans are in the works to build new shops, more food offerings, conference and event facilities.
The Big Banana plans to establish a four-and-a-half star, multi-level resort accommodation and to upgrade and relocate their 26-hole mini golf course.
Canberra developers Village Building Co. have been the sole owners of the landmark since 2016, and had joint ownership of the park alongside the Rubie family from 2005 to 2015.
The Big Banana general manager Michael Lockman said the investment would further establish the fun park as a key destination and tourist attraction for Coffs Harbour and the Mid North Coast.
"With a renewed focus on domestic tourism in Australia, the timing is perfect for these very exciting enhancements," Mr Lockman said.
Mr. Lockman said Village Building Co. were considering making shares in the park available to investors from the Coffs Harbour region.
The proceeds from sold shares would contribute to the park's expansion.
The massive expansion is a huge evolution from the simple landmark commissioned by American immigrants John and Betty Landi to advertise their small fruit stall outside their banana plantation.
