Receivers move in on Airlie Beach

Whitsunday residents and visitors to the region can expect “business as usual” at Meridien’s Abel Point Marina, in spite of the announcement that receivers McGrathNicol were appointed on Thursday afternoon. The announcement comes less than a fortnight after Meridien’s other Whitsunday development – the Port of Airlie project – was also placed into administration.

 At the time Port of Airlie hit the headlines, Meridien’s Managing Director Russell McCart was quoted as saying the group’s other holdings would be unaffected, but Whitsundays’ Mayor Mike Brunker says it was his understanding they were inextricably linked.

 “They’re the same company, but in saying that it’s business as usual down there I believe,” Mayor Brunker said.

 “The receivers have said they’re going to spend some money down at Port of Airlie to tidy things up but you wouldn’t expect them to spend too much. At the end of the day we’ll have to wait until a new owner is sourced for there to be any chance to move ahead,” he said.

 Jamie Harris, a partner of the Brisbane office of McGrathNicol, confirmed the company had met with management and staff at the marinas and looked forward to working with them “to continue the operations of these significant providers of marine services and storage facilities”.

  “We understand that tenants and the owners of boats stored and maintained at the marinas have placed significant trust in the businesses.  We will provide further information to each of them over the next few days regarding ongoing operations and look forward to working with management and staff to continue to provide excellent facilities and services,” Mr Harris said.

 Meridien’s Managing Director Mr Russell McCart said the marina at Abel Point was an excellent asset, had a great future and would continue to trade very well.

 “The receivers have re-employed all marina staff and will continue to operate as usual without disruption,” he said.

 Whitsunday MP and Tourism Minister Jan Jarratt said she was seeking a meeting with the administrators/receivers but in the interim she didn’t expect residents or visitors to notice a visible change.

 “Having an administrator in charge is a serious issue, however they (the receivers) have undertaken to continue to allow businesses connected with each of those projects to operate, both now and into the future. I doubt that people will notice a practical difference,” she said.

As for the future, Ms Jarratt said it was her understanding the receivers would be “looking for an investor to come in and take over those businesses as going concerns”.

 “That would be the best outcome for everyone,” she said.

 With approximately 500 berths Abel Point Marina is the largest on the North Queensland coast. The Guardian understands it was purchased by Meridien for $73million in 2006.

 Photo courtesy Justin Heitman