Real Estate
10 April, 2024
Superyacht marina for sale
BILLIONAIRE Ghassan Aboud is selling his Crystalbrook Superyacht Marina at Port Douglas.
The marina at 44 Wharf St serves as one of Queensland’s main access points to the Great Barrier Reef and features a 10ha freehold and seabed lease land holding with 23 retail tenancies, a car parking area and a marina slipway.
Mr Aboud bought the marina in 2017 with plans for a $200 million redevelopment including a luxury resort.
CBRE Hotel’s Tom Gibson, Wayne Bunz and Joe Tynan, together with JLL’s Jacob Swan, Adam Bury, Liam Petersen and Jake Burrowes, are managing the sale of the marina via an expressions of interest campaign closing Wednesday, May 1.
“The Crystalbrook Superyacht Marina is one of the largest marinas in Queensland and offers institutional scale, short-term value-add propositions, in addition to material redevelopment opportunities to deliver a world-class integrated luxury development,” Mr Gibson said.
“Furthermore, the Far North Queensland market has witnessed considerable growth since the pandemic, as evidenced by its RevPAR growth rate performance, serving as the number one growth rate market in Australia for 2024 January increasing by 19 per cent.”
The marina is home to a 135-berth marina, five fisherman berths and a fuel wharf, with the opportunity to expand operations via a development approval for an additional 24 berths, providing an incoming owner with immediate income growth and the ability to capitalise on the strength of the industry.
Mr Adam said “Crystalbrook Superyacht Marina provides an unparalleled opportunity to redevelop an expansive freehold land holding prominently positioned next to a strong performing marina – reporting an 83.8 per cent average berth occupancy rate in 2023.”
Last year Mr Aboud sold the 33,900ha Crystalbrook Station at Chillagoe for $14m and the 431ha property Silkwood in the Cassowary Coast region for $7m.
