Mackay Marina to make $38m splash

Mackay Marina.
Mackay Marina.

Queensland tourism properties and infrastructure are continuing to flow onto the market, with the Mackay Marina the latest landmark property up for sale.

Brisbane-based developer Port Binnli Group has listed the 479-berth marina, with market expectations that it will sell for about $38 million.

It is the first time the marina, which has twice won Australia’s Marina Industries Association Marina of the Year, has been offered to the market, after the property was developed in stages by Port Binnli Group in the early 2000s as part of a mixed-use waterfront precinct.

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The marina covers almost 25ha, including the 20.8ha marina basin on a 99-year seabed lease that expires in 2098, and 4.1ha of freehold land and buildings that includes a waterfront commercial village, shipyard and hardstand.

The commercial and retail village has a 140m frontage to the marina esplanade and includes 10 buildings with 25 tenancies, with a net lettable area of 7040sqm.

Tenants include food and beverage venues and marine industry service providers, offices for Australian Customs, North Queensland Bulk Ports and Glencore Coal, professional suites, a commercial laundry and a hair salon.

Also included in the parcel are freehold car parking areas covering 1.4ha, with 241 parking bays, including 136 secure spaces and marina amenities blocks.

Mackay Marina is on the market for the first time.

Mackay Marina is on the market for the first time.

The marina and commercial properties are being offered in one line as a fully-managed facility, with the property being marketed by Resort Brokers via a five-week international expressions of interest campaign closing on November 11.

Resort Brokers Australia’s national sales manager Trudy Crooks describes the marina as a “rare property” that is likely to draw strong interest from China, India and Singapore, as well as locally.

Mackay Marina is located on Mulherin Drive, abut 6km away from the Mackay CBD. Nearby is a range of residential apartments and the 4.5-star Clarion Hotel.

The marina offers the only berthing facilities in the Mackay area, as well as the only vessel repair, maintenance and workshop facilities.

It can accommodate vessels up to 50m long and also includes six ‘super-yacht’ berths, specially designed multihull, commercial fishing and maintenance berths, a 13-bowser fuel dock, and approval to construct a further 49 berths.

Port Binnli Group also developed and recently sold the Raby Bay Marina on Brisbane’s bayside.

The company is now focused on a $1 billion master-planned community on Brisbane’s north side, incorporating the Northeast Business Park and 1500-lot North Harbour residential and marina precinct, which it is developing in partnership construction giant Laing O’Rourke.