Richlisters’ $200m superyacht plan to create thousands of jobs

A privately-owned family company will fund an expansion that will see a $200 million superyacht repair and refit centre built in Brisbane, creating more than 2000 jobs.

SHIP AHOY

Queensland’s reputation as a haven for the wealthy has been cemented with plans to create a $200 million superyacht repair and refit centre that will create more than 2000 jobs.

Rivergate Marina and Shipyard at Murarrie plans to triple its existing facility with a five-storey trade centre, three refit sheds, in water berths and a hardstand.

The expansion also will include a massive shiplift that can lift the world’s biggest superyachts out of the water for crucial repairs.

Rivergate, which has serviced more than 300 of the world’s most luxurious yachts, has been largely unaffected by COVID-19 as the superrich seek a safe haven to repair and upgrade their vessels. Rivergate director Tom Hill says the expansion would build on that success and cement the city as a top global destination for superyachts.

Hill, who is the son of Adco Constructions founders Bob Hill and Judy Brinsmead, says a development application has been lodged for the project and once the green light is given, construction will start next year.

Artist's impression of the new superyacht facility.

“We know there is substantial pent-up demand among superyacht owners to visit our region but this is hampered by a lack of adequate lifting, repair and refit facilities,” he says.

“At the same time, the world is experiencing a superyacht building boom and the average size of these vessels is increasing.”

He says Rivergate has been forced to reject $40 million worth of work in the last few months because it did not have the shiplift capable of bringing the biggest yachts out of water.

“We were working on a 86m yacht but it had to go up to Singapore for some work because we could not lift it out of the water,” says Hill. He says Brisbane was poised to become a global superyacht centre over the next few years.

“We have the weather, the deep water river anchorage and we are below the cyclone belt, which is important for insurance reasons,” he says. “Australia, the South Pacific and Southeast Asia have some of the most exciting superyacht cruising grounds in the world including the Great Barrier Reef and many spectacular tropical islands.”

The new superyacht facility near the Gateway Bridge will include expanded berths

Hill says the expansion will be funded by Rivergate, which is a private company owned by his family and established in 2006.

He says the facility will contribute $460 million to the local economy each year and create good quality trade and operational jobs.

Rivergate was named Australia’s premier superyacht repair and refit provider in this month’s Australian Maritime Industry Awards.

“The superyacht sector is one of the biggest wealth distributors because of all the small and medium sized companies that benefit,” he says.

Artist's impression of the new superyacht facility.

VALE TONY

SOME kind words about late City Beat columnist Tony Grant-Taylor (TGT) from Marcus Titley, the long serving former head of JB Were in Brisbane.

TGT, who died this week after a brief battle with cancer, came on board The Courier-Mail the year Marcus left JB Were. “Subsequently for many years we used to frequent Pier 9 (as it then was) and Il Centro,” says Marcus, who was dubbed the “gentleman of Brisbane broking” in his day. “He was a good-hearted friend, loved his lunch and would dispel financial news on the condition that ‘I don’t know where I got that from!.”

Tony Grant-Taylor was a veteran newsman at the Courier-Mail

BIG NUMBERS

Our spies tell us Tatts president Michael Paramor is pleased with the growing number of women members and the increasing high-profile female richlisters, such as Vita Group boss Maxine Horne, who are visiting the club.

Your diarist seriously underestimated the number of members of the club in yesterday’s column. The club actually has more than 4500 members, not the 800 we mentioned, and of those about 450 are women.  The female component follows a change in club rules in 2018 that allowed women to become full members.