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A$1 Billion Lifestyle Precinct to Boost Tourism in North Queensland

Strategic Insights

— 1 min read

The Queensland government has greenlit a A$1 billion lifestyle precinct in Townsville, which includes a new cruise ship terminal, expected to cater for up to 40,000 visitors each year. The Ocean Terminal development will be a joint venture between Tabcorp Holdings Ltd and Consolidated Properties Ltd, with the government contributing $15 million to the new cruise ship terminal. The precinct will also feature a marina, commercial and residential development, and a landscape development to provide public access to the Breakwater and future green areas.

Key Takeaways:

  • The Ocean Terminal development is a joint venture between Tabcorp Holdings Ltd and Consolidated Properties Ltd, with a total investment of A$1 billion.
  • The Queensland government will contribute $15 million to the new cruise ship terminal, which is expected to cater for up to 40,000 visitors each year.
  • The development will include a marina, integrated commercial and residential development on the land surrounding the Tabcorp's Jupiters Casino, and a landscape development to provide public access to the Breakwater and future green areas.
  • The project is expected to create up to 1,200 jobs during the construction phase and a further 500 jobs to service the terminal and marina once operational.
  • The Port of Townsville, Queensland's third largest, will be expanded to handle a larger number of cruise ships, including bulkships, military vessels, and a small number of cruise ships.
  • The development will be managed by Peter Trathen, chief executive of City Pacific Project Management, part of the City Pacific Group.
  • Tabcorp's managing director Matthew Slatter expects the development and cruise ship terminal to bring enormous benefits to Townsville and North Queensland.

Statistics:

  • A$1 billion total investment in the Ocean Terminal development
  • $15 million contribution from the Queensland government to the new cruise ship terminal
  • Up to 40,000 visitors each year expected to utilize the new cruise ship terminal
  • Up to 1,200 jobs created during the construction phase
  • A further 500 jobs created to service the terminal and marina once operational
  • Queensland's third largest port, the Port of Townsville, to be expanded to handle a larger number of cruise ships

Sources:

  • ASIA PULSE, "A$1 billion lifestyle precinct gets green light in Townsville", September 13

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