Port Hinchinbrook: Potential buyer backs away from buying disused NQ marina

Devastated by a cyclone in 2011, this disused North Queensland marina may be a ‘last of its kind’ development, but a buyer has pulled away. Read more.

The sales office, entertainment centre, restaurant and bar at the Port Hinchinbrook property and marina development in a state of disrepair. Picture: Cameron Bates

In a sign that building and development in the southeast of the state is more attractive than in the north, one of North Queensland’s longest running commercial sagas has been hit with another setback as a potential buyer for Port Hinchinbrook pulls out.

Marked as the only developable marina left with access to the Great Barrier Reef, Port Hinchinbrook near Cardwell has been shunted further back into ongoing liquidation as developers Consolidated Properties Group have decided not enter a contract to purchase the port’s assets.

The area was devastated by Cyclone Yasi in 2011, and copped another setback in a tangle with serial fraudster Craig Gore.

The marina is now silted up and devoid of the luxury boats once moored there. Parcels earmarked for a hotel and a golf course estate remain to be developed.

The Cardwell Coast Guard rescue boat left high and dry sitting in mud and silt at Port Hinchinbrook. Picture: Cameron Bates.

Consolidated Properties Group chief executive, Don O’Rourke, said difficulties in the construction market meant the company could not purchase the assets.

“I’m sure the natural attributes of this project will see it brought to life, sooner rather than later,” Mr O’Rourke said.

In May, crossbench MPs from the Greens, One Nation, Katters’ and the lone independent co-signed a statement calling for a cap on the $7bn 2032 Brisbane Olympics budget.

The joint statement called for the Olympics budget spend to be matched in regional infrastructure and voiced concern that money and labour for infrastructure builds in the north would be drawn south by the Olympics developments.

A government spokesman said at the time that nothing was being built solely for the few weeks of the Olympic and Paralympic Games.

Luxury yachts and boats at Port Hinchinbrook after Cyclone Yasi in 2011. Picture: Evan Morgan

The vast majority (95 per cent) of the government’s $62bn energy and jobs plan was being spent in regional Queensland, the spokesman said at the time.

Hinchinbrook MP Nick Dametto understood but was disappointed with Consolidated Properties Group’s decision.

“ … with the rising cost of construction in the regions and the abundance of work in the southeast, it seems this time round it is a case of right project, wrong time,” Mr Dametto said.

“There will likely never be an opportunity to own developable land or a marina site this close to the Great Barrier Reef again in our lifetime,” Mr Dametto said.

Port Hinchinbrook was badly damaged 10 years ago when Cyclone Yasi crossed directly over the town, destroying buildings and infrastructure. The marina was completely destroyed and never rebuilt. Picture: Brendan Radke

For the foreseeable future, the Port Hinchinbrook assets will remain with the liquidators; Offermans.

Offermans principal Michael Brennan said Consolidated Properties Group would have been a great fit, but the properties would be taken to market after discussions with the state government and Cassowary Coast Regional Council.

The council will continue to work on replacing the sewage treatment plant and facilitate dredging, which the state and federal governments have both funded.

Originally published as Port Hinchinbrook: Potential buyer backs away from buying disused NQ marina