Port of Airlie marina sells to Epochal Hotels for $20.75m

Sold by Sentinel Property to Glenn Piper’s Epochal Hotels, the deal was brokered by JLL in conjunction with CBRE.

“The Port of Airlie represents a rare opportunity to acquire irreplaceable waterfront infrastructure in one of Australia’s most resilient tourism markets,” says Christian Tsalikis, vice president – hotels at JLL.

“The asset’s exposure to the Whitsundays’ structural tourism growth, combined with a long-term lease to Journey Beyond, delivered exceptional interest from both domestic and offshore capital seeking passive, inflation-protected returns.”

The lease extends through to 2108, under two lease agreements generating a passing net operating income of approximately $1.88 million per annum, allowing for Epochal Hotels to generate immediate stable income with a weighted average lease expiry of 9.7 years, combined with fixed annual rental increases of 3 per cent.

Located in the heart of the Whitsundays, the Port of Airlie functions as the region’s primary passenger gateway, connecting more than a million visitors each year to destinations including Hamilton Island, Daydream Island and the Great Barrier Reef.

Completed in 2014, it comprises a 1400-square-metre freehold terminal building incorporating passenger facilities, offices, retail space and a 168-seat cafe, together with an 8119-square-metre seabed lease featuring approximately 310 metres of pontoon infrastructure capable of accommodating 10 vessels and associated fuelling facilities.

The sale also reflects broader structural trends shaping Australia’s marina market. Earlier this year, MA Financial acquired Gold Coast’s Marine Precinct, marking another major marina transaction in Queensland.

Maritime infrastructure constraints fuel asset value

With more than 925,000 registered recreational vessels nationally but only around 300 professionally managed marinas, supply remains constrained. Waterfront development opportunities are limited by planning restrictions, environmental protections and the scarcity of suitable coastal sites, making existing marina assets difficult to replicate.

“You can’t buy these things … ever,” Liam Cox, of JLL Brisbane, said back in November last year.

“Governments won’t give out any more leases. So, if you want to own a marina, you have to buy an existing one.”

Tourism in the Whitsundays remains strong, supported by international visitor growth, record visitor expenditure and continued government investment across the Greater Whitsundays region. More than 70 per cent of the region is protected as a national park or marine park, further limiting future waterfront supply while enhancing the long-term value of established gateway assets.

“This transaction demonstrates the increasing sophistication of capital targeting Queensland’s tourism infrastructure,” says Jacob Swan, executive director of capital markets at JLL.