Port Douglas’ Reef Marina bought by Crystalbrook Collection

Port Douglas’ Reef Marina bought by Crystalbrook Collection
Port Douglas’ Reef Marina bought by Crystalbrook Collection

Crystalbrook Collection have bought The Reef Marina in Port Douglas and have announced its intention to invest more than $100 million into the marina.

Now to be known as Crystalbrook Superyacht Marina, it sits at the gateway to the Great Barrier Reef and is Queensland’s northernmost marina.

Crystalbrook Collection owner Ghassan Aboud said the group believes they can redefine the Australian marina experience and ensure Port Douglas is an essential-visit location for high-end global travellers.

The expansion of the Marina will include an additional 24 berths to the existing 132 berths welcoming superyachts of up to 50 metres in length.

Central to the expansion is the creation of a world-class hotel.

Crystalbrook Collection CEO Mark Davie suggests the site demands a hotel of the highest calibre.

“We have been travelling the world for inspiration," he said.

"We want to bring to Port Douglas a globally recognized hotel and an incomparable experience for its guests.”

Construction of the luxury hotel and residences is expected to commence in mid-2018, subject to Government approvals, with completion anticipated in 2020.

Douglas Shire Mayor Julia Leu said she was excited to see investment coming to the region.

The work is expected to generate more than 600 jobs during construction and around 240 permanent jobs post completion. Prime Group has been appointed to project manage and construct the expansion.

This will be the fourth development in Queensland for Crystalbrook Collection, which already has three hotels in Cairns under construction with an investment of more than $370 million.

The group also owns and operates Crystalbrook Lodge, a member of Luxury Lodges of Australia, and MV Bahama, a 27-metre luxury motor yacht berthed at Crystalbrook Superyacht Marina.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Marina Port Douglas

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