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CRYSTALBROOK Collection has bought the Port Douglas Reef Marina with plans for a $100 million-plus redevelopment including a five-star hotel, luxury apartment complex and new superyacht berths.
The company already has more than $370 million invested across three hotel developments in Cairns and is adding a fourth to its growing portfolio after signing contracts for the Reef Marina at 3pm today.
Its new name, Crystalbrook Superyacht Marina, alludes to the vision of bringing Port Douglas back to its heyday when it was the go-to location for the world’s wealthiest holiday-makers.
As well as the upgrading the marina to a world-renowned level, Mr Aboud says he will deliver a 100-room boutique hotel, 50 top-tier apartments and a wealth of enhanced retail and dining areas.
“With our plans, we believe we can redefine the Australian marina experience and ensure Port Douglas is an essential-visit location for high-end global travellers,” he said.
Crystalbrook Collection CEO Mark Davie said he had been travelling the world for inspiration for the project.
“This site demands a hotel of the highest calibre,” he said.
“We want to bring to Port Douglas a globally recognised hotel and an incomparable experience for its guests.”
The facility is Queensland’s northernmost marina, with 132 berths able to cater for superyachts of up the length of an Olympic swimming pool.
Mr Aboud’s own motor yacht MV Bahama, available for tourists for journeys across the Coral Sea and reef trips, already calls the site home.
The redevelopment will add another 24 berths to the marina.
Construction on the hotel and apartment complex are due to start in mid-2018 and finish in 2020.
More than 600 jobs are expected to be created during construction, with about 240 permanent positions once the facilities are running.
Prime Group has been appointed to manage the construction project, as well as the three Crystalbrook hotel developments.
Douglas Shire Council Mayor Julia Leu said the investment was a major endorsement for the region.
“This is encouraging news for Port Douglas and we look forward to working with Crystalbrook Collection to revitalise the marina precinct,” she said.
“It’s many years since we have seen a development of this size and Crystalbrook Collection have demonstrated with their recent significant investments in Far North Queensland that they mean business and are committed to the ongoing growth of the region.
“This investment in the marina will endorse Port Douglas as one of Australia’s most idyllic getaways and bring great economic growth for the wider community.”
Former owners Andrew Hooper-Nguyen and Chris Ellis in February obtained approvals to redevelop the waterfront site with 80 new apartments and townhouses, new bars and restaurants and a live music venue.
The plan has now been significantly expanded and new approvals will be necessary.