PORT REVIVAL
NEW $120M RESORT FOR SEASIDE TOWN
A MELBOURNE company is kickstarting a high-end property revival at Port Douglas by planning a $120 million luxury complex complete with a living coral reef diving pool.
The building slated for construction on Port Douglas Rd will feature a rooftop bar and convention facilities and be designed by award-winning architect Charles Wright.
It is expected the complex will offer apartments for sale as well as providing short-stay hotel-style accommodation.
DHD Corp managing director Daniel Hunter said the 10m deep reef pool would give residents and guests the option to dive within the complex rather than actually visiting the Great Barrier Reef.
“We have got several pools within the complex, so one will be your standard lagoon swimming pool and on the other side we have a waterfall coming from the top floor into a coral reef diving pool,” he said.
Plans were yet to be submitted to the Douglas Shire Council but the company was expected to meet town planners and architects next week to discuss the project.
Mr Hunter said there needed to be a fundamental shift in the way high-end Port Douglas property was marketed and sold.
“People are selling too cheap. If everyone would put up their prices we would be in a better position,” he said.
“I see the potential in the area. Where else in Australia can you buy a block of land, and for under a million dollars, and gain approval for 10 luxury apartments and sell it in the sevens? You can’t do that in Melbourne or Sydney.
“If you set a price to something that’s not available anywhere else, I don’t care if it takes two years to sell them you will get the price. We want get the market back to like it was 15 years ago when Sydney siders came up from Manly to spend $2 million on a good product.”
DHD co-director Bree McMillan expected the residences to sell for about $1.9 million each.
“It’s very risky for us, all up we are talking a $120 million development if it gets approved but we do need council’s backing on this,” she said.