Glenn Piper buys Port of Airlie
Glenn Piper has extended his reach into the Whitsundays, paying $20.75 million for the Port of Airlie, including the Cruise Whitsundays Terminal and marina.
The property serves as the primary artery for tourism in the region connecting the coast to Daydream Island, Hamilton Island and Reefworld.
It is also set to become the mainland base for a $20m eco-resort Mr Piper’s Epochal is set to open on Hook Island next year.
Sentinel Property Group was the seller; it paid $15.3m in 2015 with a 20 year leaseback for a single asset trust.
CBRE’s Craig Chapman and Neville Smith with JLL’s Jacob Swan, Liam Cox and Christian Tsalikis were the agents.
The deal follows the Whitsunday Coast Airport recently recorded its highest monthly passenger numbers, exceeding 50,000 travellers for three consecutive months to the end of 2025.
Port of Airlie
The Port of Airlie transaction involves a mix of freehold land and long-term leasehold interests, including a 1400 square metre two storey terminal facility with automated baggage handling facilities, a gift shop, 168-seat cafe and offices, on an 1893 sqm freehold site.
The property also includes 310 lineal metres of pontoon infrastructure and an 8119 sqm seabed lease (continues below).
The entire site is rented to Cruise Whitsundays, part of Journey Beyond, until 2035 with a 10 year option.
MA Financial has controlled the property since buying a $225m portfolio of 10 marinas – the d’Albora portfolio – in 2024.
A revamp is planned to the terminal’s waiting lounges.
The food and beverage offering will also be changed to include more local product.
With the deal, Epochal controls assets worth $220m including, in New South Wales, the Beach Hotel at Merewether and the Scarborough Hotel in Illawarra.
In Sydney he holds the Harbour Hotel at Freshwater, Manly’s Q-Station leasehold and the Commodore Hotel at McMahons Point.
He bought Hook Island in 2022.
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