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Townsville Marine Tourism development attracts $3.5 million State Government funding

Townsville Marine Tourism Precinct

A world class Townsville Marine Tourism Precinct has been given State government funding of $3.5 million.

Honeycombes Property Group, in a joint venture with SeaLink, has received the multi-million dollar contribution from the State Government to finalise the funding arrangements for the waterfront development on Ross Creek and the Strand adjacent to the Townsville Breakwater.

The Port of Townsville described the project as a re-activation precinct of the waterfront with world class commercial and tourism facilities.

“The development site is one of Townsville’s most significant projects providing a vibrant and new urban space, contributing to a range of world class commercial, residential, retail and tourism precincts that will re-activate Townsville’s waterfront and provide for connectivity between these complementary activities,” Port of Townsville said.

Development features

The Townsville Marine Tourism Precinct design will include a 99-bed four star hotel, 980sqm retail, food and beverage precinct, new ferry terminal, interstate and long haul bus terminal, and two high-speed ferries servicing Magnetic Island and Palm Island.

Sealink managing director Jeff Ellison said, “To improve facilities on this scale will create great opportunity for not only SeaLink passengers but other marine tourism business in the region.”

The site of the new Townsville Marine Tourism Precinct will be on the existing SeaLink ferry terminal at Sir Leslie Thiess Drive and The Strand, owned by the Port of Townsville in the Waterfront Priority Development Area.

Also included in the scope of development is public open space, 1500 sqm commercial office, hospitality, tourism and marine training area and a 460 space car park.

Feasibility and economic impact

Queensland’s Tourism Industry Development Minister Kate Jones said “It will connect the Townsville CBD and major tourism offerings like Reef HQ Aquarium, The Museum of Tropical North Queensland and the new proposed Museum of Underwater Art to the water.”

The State Government’s contribution adds to the $15 million already committed by the Federal Government’s Regional Growth Fund to complete the $52.5 million development.

Feasibility assessments are forecasting the new development could generate an extra 200,000 visitors, generate $28.7 million for local business and increase the regions GDP by $13.1 million.

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Construction of the new Townsville Marine Tourism Precinct is estimated to create 259 full-time positions based on independent research. 

The State Government’s funding comes out of its $48 million Attracting Tourism Fund and is conditional upon the Federal Government’s contribution.

The development is reported to create overall 2959 jobs during construction and support 200 ongoing full-time jobs when it is completed in 2021.

Capacity of the ferry service will grow to carry more passengers to Magnetic Island, Palm Island and attract more visitors to Orpheus Island and the Museum of Underwater Art.

With funding secured, the development application is working through approvals at Townsville City Council and the Economical Development Queensland processes.

Honeycombes Property Group anticipates construction will commence later in 2019 and be completed by the first half of 2021.

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Aaron M, Editior
Aaron is the founder and editor of TREN eMagazine with 15 years experience in the real estate industry investing and helping investors seek value, leverage value and capitalise on value, developing professional and technical skills and capabilities that have enabled his success in business from startups, adoption, asset growth, management and community leadership projects. Aaron also loves travelling, sports, his partner Jodie and helping people discover their "why" and find their few "what's" in life that realise the "wows. The " www" in www.townsvillerealestatenews.com.au is one of his why, what and wow's that strive to add valuable content and analysis for readers to participate and win.
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