The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailStaff WriterThu 19 May 16

Port Hinchinbrook Set For $450 Million Overhaul

p

The Port Hinchinbrook resort community in North Queensland is set to be transformed into a $450 million tourism drawcard.

The Passage Holdings, an Australian company linked to American businessmen Lewis Cohen and Stephan Pinto, already has spent $4 million on improvements at the resort which was battered by Cyclone Yasi in 2011.

The syndicate took possession of the resort and marina property last year and is preparing to settle on its $3 million purchase from liquidator FTI Consulting in coming weeks.

The Passage Holdings has engaged renowned architects DBI Design to help realise its vision for the resort, which will be renamed Hinchinbrook Harbour and Resort and staged over 10 years.

Mr Pinto said the $450 million masterplanned project offered the opportunity for Port Hinchinbrook to become one of Australia’s finest, safe-haven marina destinations with easy access to the Cassowary Coast fishing and boating paradise.

It will capitalise on Far North Queensland’s appeal to a wide cross section of tourists, from international visitors and families to anglers and backpackers.

DBI Design’s masterplan for the resort includes a $45 million international fishing village, new marina, family resort, water theme park, 300-site motorhome park, camp grounds, backpacker accommodation and waterfront residential lots and apartments.

Mr Pinto said the syndicate’s $4 million initial investment included around $500,000 on restoring the sewerage treatment plant, more than $2 million on the grounds and marina village, commercial building, street lighting and public access, plus $750,000 on masterplan designs and consultation.

The resort’s restaurant/retail precinct is due to reopen in mid-July following repairs, and work is poised to start on dredging the heavily silted harbour and the rebuilding of the 266-berth marina.

The resort was first developed by the late Keith Williams adjacent to Hinchinbrook Island, near the historic village of Cardwell, during the 1990s. It fell into the hands of liquidators following the collapse of Williams Corporation in 2013.

Mr Pinto, who has developed residential and commercial property in the US for 35 years, said he was amazed at the value and potential of the magnificent property.

“I have been in real estate for a long time with experience in tourism assets worldwide - when I was informed about this project, I found it to be an interesting and compelling story,’’ he said.

“Having experienced Hurricane Katrina and the effects it had on our properties in Texas, I knew there could be an opportunity for our investment group."

ResidentialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
View All >
A rendering of the proposed retail, office and accommodation building along Gawler's main street. Source: John Byleveld Architects
Development

SA Developer Taps into Gawler Accommodation Demand

Leon Della Bosca
Charter Hall’s $925m Hyde Park skyscraper
Planning

Charter Hall $925m Sydney Skyscraper Wins City Backing

Vanessa Croll
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
The developer has opted to start building without pre-sales, so sure are they that families in the area will need housin…
LATEST
A rendering of the proposed retail, office and accommodation building along Gawler's main street. Source: John Byleveld Architects
Development

SA Developer Taps into Gawler Accommodation Demand

Leon Della Bosca
3 Min
Charter Hall’s $925m Hyde Park skyscraper
Planning

Charter Hall $925m Sydney Skyscraper Wins City Backing

Vanessa Croll
3 Min
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
2 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/port-hinchinbrook-overhaul