Michael Yates secures Port Douglas trophy home sale

The veteran Melbourne property developer Michael Yates and wife Lou sold their luxury Port Douglas retreat for a reputed $6.8 million after its weekend auction.

Surrounded by tropical flora and towering palms, the house takes its inspiration from the plantation-style British West Indies architecture.

Set on the Wharf Road dress circle, the property was designed as three pavilions by architect Alex Gencur.

The property has been listed through Barbara Wolveridge of Raine & Horne Port Douglas Mossman who advised no formal sale price could be given. 

It was bought from the Juniper development family by Yates who has holidayed at Port Douglas for the last 40 years with 7 Wharf Street being his first house purchase at $6.5 million in 2006.

They sold their South Yarra mansion recently for $11 million as they are building a home on the Murray River at Tocumwal in southern New South Wales, which they have in mind for future retirement.