Maidment Group’s Marina Residences bring waterfront luxury to Townsville

Early sales in The Marina Residences project, with views out to Magnetic Island, prove there is pent-up demand for luxury waterfront apartments in Townsville.

An artist’s impression of an apartment interior at Townsville’s Marina Residences, looking east to Magnetic Island.

The first luxury waterfront apartments to be developed in almost a decade in north Queensland have been unveiled by Townsville’s Maidment Group, which is planning a $65m tower overlooking Magnetic Island.

Prices start at $2.7m for the ­Marina Residences, comprising 18 luxury apartments on the last remaining site at the end of the Mariners Peninsula off The Strand, in the North Queensland city.

Seven of the 18 units in the 10-storey block had sold to a mix of locals developer Glen Maidment said, adding that there was chronic pent-up demand for luxury apartments in the bustling Queensland city, 1350km north of Brisbane, given there was $3.5bn worth of infrastructure development under way in a range of projects including road, rail, military and defence.

An artist’s impression of the proposed tower at Mariners Peninsula on The Strand in Townsville.

Despite its well-documented youth crime problems, Townsville is among celebrity real estate agent John McGrath’s top regional areas in Queensland for property investment and owner-occupier purchasing.

Writing in the just released 2025 McGrath Report, Mr McGrath, founder of McGrath Estate Agents, says Townsville’s prices are still on the lower side compared to many other parts of Queensland and gross rental yield is among the highest in the state.

“Savvy seachangers are snapping up properties in this surprisingly cosmopolitan city, which offers hatted restaurants, a growing number of breweries and distilleries and gorgeous beaches,” Mr McGrath said.

Mr Maidment said infrastructure spending was widespread, including $500m-plus on a Townsville University Hospital upgrade, and significant defence spending.

“We have well-established business demand, so people have jumped on this project early,” Mr Maidment said, adding that the apartment site was once held by Mirvac.

He said he had confidence in Queensland’s newly elected LNP state government, believing it would have a significant policy impact on Townsville’s youth crime: “There’s going to be big wholesale changes. They have significantly different policies. This is not just about Townsville, it’s all over Queensland.”

Marina Residences will leverage the city’s premier waterfront location to present an architectural masterpiece that is unrivalled in the city.

In any event, the apartment block will sit atop a three storey car park on a 1400sq m site at the end of the Mariners Peninsula.

“It’s secure, it’s in a highly secure gated part of The Strand, so we don’t experience (crime) in this location,” Mr Maidment said.

Mr Maidment said he was getting a diverse mix of inquiry from around the country and was targeting owner-occupier buyers.

Designed by Brisbane-based architect Bureau Proberts, Marina Residences will leverage the city’s premier waterfront location to present an architectural masterpiece that is unrivalled in the city, according to the developer.

Marina Residences will have 18 residences consisting of 15 large three-bedroom apartments and three sky homes – including a nearly 500sq m penthouse, which is poised to set a new standard for luxury living in tropical north Queensland, according to Mr Maidment.

The apartment tower includes a rooftop pool and sundeck with views east to Magnetic Island.

Hurst Constructions has been appointed to build the project, the first waterfront project in north Queensland since before the pandemic, with construction to start in January and be completed by late 2026.