Crystalbrook Superyacht Marina for sale

Crystalbrook Superyacht Marina, one of Australia’s most iconic marina assets, has been listed for sale. 

Located at 44 Wharf Street, Port Douglas Queensland, the marina serves as one of Queensland’s main access points to the Great Barrier Reef. 

The property features a 10ha freehold and seabed lease land holding with 23 retail tenancies, an a-grade car parking area and a marina slipway.

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 1st May 2024.  

“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%.” 

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 noted, “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% average berth occupancy rate in 2023.” 

The offering of Crystalbrook Superyacht Marina follows a number of other domestic institutional-grade marina transactions, including Goldman Sach’s $235 million sale of Rushcutters Bay and The Spit, Brisbane’s East Coast Marina for $33 million and Batemans Bay Marina for $11 million.

“Marina investments has emerged as one of the most sought-after alternative assets, underpinned by strong demand fundamentals and the ability to create additional value through operational and physical real estate expansion,” Mr Swan added.

The development of the marine industry has seen it evolve into a sector contributing over $1.6 billion per annum to the Australian economy. This growth is expected to continue into the future as the Asian Pacific superyacht industry is projected to experience a 30% increase in superyachts from 2020 to 2030.