Port of Airlie project in receivership

THE Port of Airlie development has gone into receivership.

Port of Airlie development. Picture: Whitsunday Times

THE Port of Airlie development has gone into receivership.

Meridien’s managing director Russell McCart this morning confirmed a receiver had been appointed to the development, saying the strong Aussie dollar and poor tourist numbers had contributed to its downfall.

“We will be working closely with the receiver in a concerted effort to continue with the Port of Airlie development,” Mr McCart said.

“Port of Airlie has been 10 years in the making and Meridien has committed over $200 million into the project.

“Meridien has completed the majority of infrastructure works including the marina basin, 15 beachfront land lots, the public Boathaven Beach and parklands, 56 Boathouse Apartments managed by Outrigger Hotels and Resorts, completion of marina berth first stage and waterfront retail and dining precinct.

“The combination of the ongoing GFC, cyclones, strong Australian dollar and poor tourist numbers has slowed the region’s growth.

“Whilst a review of Port of Airlie is undertaken, there will be no direct effect to the operations of Meridien’s associated group of companies.”

Originally published as Port of Airlie project in receivership