06 Jul 2026
Words Daneka Hill and Leighton Smith, Townsville Bulletin

Iconic high-rise Aquarius has management rights sold in record $7m deal

The iconic Aquarius on the Beach high-rise building overlooking The Strand has officially changed hands.

On Wednesday, July 1 property management company Belmo Group took over the building and its 156 apartments in what might be the city’s largest-ever management rights transaction for a single property.

According to ResortBrokers Townsville agent Steven Styles and director Alex Cook, the 14-storey Aquarius’ management rights sold for a record $7m.

This surpasses the previous Townsville management rights record set by the 71-unit Mariners North Holiday Apartments in 2021.

“We’re delighted to have achieved this record sale,” said Mr Styles.

“Not only did we secure an outstanding result that met our client’s price expectations, but the property will now be operated by one of the industry’s top operators.”

Mr Styles said as a fast-growing city, demand for short-term accommodation is strong.

“Aquarius is already achieving an exceptional 87% occupancy rate,” he said.

Aquarius on the Beach is a well-known Townsville icon from the early ‘70s and is the only high-rise on the Strand offering short-term accommodation.

Many residents would have fond memories of these apartments, using them when they first moved up North, as a stop-gap between rentals, a home base on long business trips, and more. END