Mantaray Marina and Residences: Jaw-dropping price for ‘holiday homes’ in Spit development

A pair of families have each spent a jaw-dropping amount of money to buy sub-penthouses in the first new development to be built on The Spit in nearly 25 years. FIND OUT MORE

A pair of Sydney families have each spent $17.5m to buy sub-penthouses in the first new development to be built on The Spit in nearly 25 years.

However neither plan to live at Gordon Corp’s Mantaray Residences, with the collective $35m worth of units to be used as holiday homes.

Each of the four-bedroom apartments cover 600sq m and have a 465sq m roof terrace, with high end features including private pools, a cinema, and grass lawn.

Artist impression of unit interiors of the Mantaray development being built by Gordon Corp on The Spit. Picture: Supplied

Gordon Corp sales director Lara Diamond did not disclose the identities of the families but said both were highly wealthy.

“Despite owning multiple residences worldwide, the unparalleled luxury of their residences at the Mantaray surpasses anything the families have experienced before,” she said.

It comes less than a year after a Melbourne buyer snapped up one of the penthouses for $28m.

Artist impression of unit interiors of the Mantaray development being built by Gordon Corp on The Spit. Picture: Supplied

Another two units sold for $12m each, one of which went to a Paradise Waters family.

Construction of the $300m, three-storey development, which will have just 24 units. will begin in the first week of April.

Gordon Corp CEO Tim Gordon said work would be finished on the projected in 2026.

“More than $1 billion in private sector investment has been committed at The Spit since the master planning process was finalised, triggering an extraordinary transformation (and) we’re excited to be at the forefront of this,” he said.

Pub baron Bruce Mathieson with developer Tim Gordon, who have partnered to deliver the luxury Mantaray development at the Gold Coast. Picture: Supplied

“The Mantaray Marina and Residences will supercharge Queensland’s superyacht tourism sector and deliver new residential, retail and marina offerings within The Spit’s designated village centre.”

Mr Gordon in December 2022 was awarded a 120-year lease on the site for an undisclosed sum by the state government.

Artist impression of the Mantaray project on The Spit from Tim Gordon's Gordon Corporation.

The project will have a range of high-end features, including an exclusive club lounge for its residents.

Its 10 four-bedroom penthouses each have rooftop pools and private lifts.

It will also feature Australia’s first dedicated private superyacht marina with 67 berths of up to 60m each.

Mr Gordon 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.

Artist impression of Tim Gordon's Mantaray development on The Spit on the Gold Coast

Originally published as Mantaray Marina and Residences: Jaw-dropping price for ‘holiday homes’ in Spit development