Sentinel Infrastructure (Airlie Beach) Trust - Port of Airlie
Date of Purchase
Aug '19 Net Distribution
About Sentinel Infrastructure (Airlie Beach) Trust
Sentinel Infrastructure (Airlie Beach) Trust has purchased the ‘Port of Airlie Cruise and Ferry Terminal’, a newly purpose-built cruise and ferry facility completed in September 2014. The facility comprises freehold land and marina sub lease area of approximately 1,893m2 and 8,005m2 respectively and boasts a modern passenger terminal building and associated administration offices, floating pontoon, large vessel marina berths and refuelling infrastructure.
100% leased to Cruise Whitsundays Pty Ltd (CW) on a 20 + 10 year lease term, which was negotiated and commenced following settlement.
As the only operator of this size and nature in the region, CW have approximately 90% market share and hold a number of exclusive ferry contracts with Island resorts (Daydream Island, Hamilton Island and proposed Hayman Island). In addition to ferry and day cruise services, they transport essential provisions and equipment to the resorts and permanent island residents, while holding an exclusive 15 year licence (commencing 2014) to distribute fuel within the marina.
A key piece of infrastructure for the tourism hub of Airlie Beach, the property is strategically located adjacent to Airlie Beach town centre and adjoins the council Transit Terminal, the major visitor connection point for the regional transport network.
Airlie Beach is the main tourist gateway to the Whitsunday Islands and Great Barrier Reef off the Queensland Coast, having undergone substantial development in recent times through both private and local government contributions. Works are ongoing and the master plan includes a well-balanced mix of marina berths, residential, retail and hotel facilities as well as a wide array of public infrastructure.