Superyacht marina and resort pitched at boomer market
LOS ANGELES: A superyacht marina and resort living project is being pitched at the boomer market.
Celebrities and some of Australia’s richest people have already bought units valued at up to $20m in The Spit’s ultra-exclusive first all-residential development.
The long-awaited transformation of the Main Beach peninsular’s southern precinct to create a new wave of hotel and resort projects is just weeks away from beginning, with three developments already in the pipeline and more expected to be announced.
The first to break ground will be Gordon Corp’s $300m Mantaray Marina and Residences on a vacant site next to Mariner’s Cove
Developer Tim Gordon has spent more than $5m to built a full-scale unit replica inside the former Golden Door gym where only serious prospective buyers can view the 800sq m sales suite by appointment.
While the three-storey, 24-unit project is yet to go on the market, Mr Gordon has already been giving private tours of the complex to wealthy would-be buyers since the Magic Millions carnival in January.
Mr Gordon said the $1.4bn of announced projects would reshape the southern Spit.
“Makris and Marina Mirage have both lodged their applications and a new resort facility is part of the tender process on the old Golden Door site that is in work in progress with government,” he said in his first in-depth interview discussing the project and Spit revamp.
“I think they’ve got a preferred tenderer which also includes future resort development of a six-star hotel, which is only encouraging (over the future of the southern site) given what we are about to undertake with our project.”
Mr Gordon said The Spit was about to experience a dramatic facelift.
“You tell me what precinct in the world you’ll see a project like ours that will be surrounded by new opportunities, brand new hotels, redevelopment opportunities, ocean one side and Broadwater on the other, with the amenity we’re about to create.
“It’s been lacking for 20 years because Palazzo Versace was the last one to be built on the Spit but it is really encouraging when you’ve got support of some of the local community groups and with our project being the first to hit the market, it gives belief for others to continue.”
Mr Gordon in December 2022 was awarded a 120-year lease on the site for an undisclosed sum by the state government.
The project, the first to be delivered under the state government’s Spit Masterplan will have a range of high-end features, including an exclusive private club lounge for its residents.
Its 10 four-bedrom penthouses have each have rooftop pools and private lift shafts.
A builder has been appointed and is tipped to be announced within weeks.
Construction works will initially focus on a basement carpark before the building begins to rise from the ground.
The first residents are expected to move in by mid-2025 when construction is completed.
Despite the eye-watering unit prices, Mr Gordon said the response he had received from buyers was strong.
“We have made sales, got expressions of interest and we have been inundated with appointments for inspections, so we’ve been overwhelmed without any marketing or promotional materials,” he said.
It will also feature Australia’s first dedicated private superyacht marina.
The complex will feature 67 berths of up to 60m each for superyachts in its marina.
“This is a one-off opportunity and the vision of the government in their master planning was realising the importance of dredging the Broadwater to get these bigger superyachts in,” Mr Gordon said.
The Gordon Corp project is expected to create more than 300 jobs during construction and 100 jobs once fully operational.
Mr Gordon said he expected the Spit to become ground zero for a resurgence in international tourist numbers and be established as one of Australia’s most exclusive addresses, with only a handful of residential offerings expected to be given the green light.
“There’s nothing like it anywhere in the world,” he said.
“The global superyachting industry has experienced phenomenal growth in recent years and there’s no better maritime playground than Queensland’s coastline.
“We’re delivering the infrastructure and amenity to cater to this tourism sector and the economic benefits will flow into the region for decades to come.”