‘You can’t buy these things, ever’: Rare $26m Port of Airlie marina hits the market
Set against the turquoise waterfront of Airlie Beach, the Port of Airlie – gateway to the Whitsundays and the Great Barrier Reef – has hit the market with a $26 million price tag.
Located at 24 The Cove Road, between the regional hubs of Mackay and Townsville, the “ultra-rare” passive investment opportunity is being offered via expressions of interest through co-listing agents JLL and Burgess Rawson of CBRE.
The offering includes a fully leased terminal and marina with 310 linear metres of pontoon infrastructure, berthing for 10 vessels, and on-site fuelling systems.
“You can’t buy these things, ever,” Liam Cox, of JLL Brisbane, says. “Governments won’t give out any more leases. So if you want to own a marina, you have to buy an existing one.”
Each year, more than one million visitors pass through the port – operated by long-term tenant Cruise Whitsundays – to access destinations such as Hamilton Island, Daydream Island and Reef World.
Beyond tourism, the port also supports local transport for island residents and provides marine services like refuelling and berthing.
The sale comprises a 1400-square-metre freehold terminal building on a 1893-square-metre site, along with an 8119-square-metre seabed lease marina under a long-term wet lease expiring in 2108 – providing 83 years of tenure security.
Key infrastructure includes a modern, two-storey passenger terminal with booking and automated baggage handling facilities, administrative offices, a gift shop, and a 168-seat cafe with a retail kiosk.
The marina offers 10 berths with floating pontoons, around 310 metres of total berthage, and full-service connections for power, water and lighting.
The refuelling facility houses a 100,000-litre diesel tank, a 12,000-litre petrol tank, four diesel dispensers, and one petrol dispenser at the outer pontoon arm.
Vendor Sentinel Property Group has held the asset since 2015, benefitting from its protected market position within the Whitsundays Island National Park, where restricted marine permits and scarce developable waterfront land limit competition.
The Queensland government has designated the Greater Whitsundays as a strategic growth corridor, supported by new infrastructure and tourism investments. The region’s economy generates around $3.7 billion annually, with tourism contributing about $1.6 billion.
Cox says the Port of Airlie is regarded as the “largest and most substantial” marina operation in the area and operates as a monopoly.
The campaign has generated a high level of interest so far, with high-net-worth individuals, syndicates and tourism operators among those shown through the property.
“I’d say it’s in the top three for most inquiries of any campaign this year, thus far,” Cox says.
Cruise Whitsundays – part of national travel operator Journey Beyond fully occupies the property under two separate lease agreements, one for the freehold component and one for the leasehold component (sub-sub lease).
Cruise Whitsundays employs more than 150 people locally. The lease generates a net annual income of $1.87 million under a 10-year WALE, with fixed 3 per cent annual rent increases and tenant responsibility for repairs and maintenance – potentially offering investors reliable, growing passive income.
Journey Beyond operates several iconic Australian tourism ventures, including The Ghan, the Indian Pacific and Melbourne Skydeck.
The property is being offered for sale via an expressions-of-interest campaign closing at 2pm on Thursday, November 20.
