Gold Coast boat building giant Maritimo has snapped up a 3ha site next door

A THRIVING Gold Coast boat building giant is tripling its footprint out at its Coomera manufacturing base with a major land deal.

Maritimo has tripled its manufacturing base at Coomera with the purchase of a 3.1ha neighbouring site (in blue).

A GOLD Coast boat building giant is tripling its footprint at its Coomera base.

Maritimo has bought a 3.1ha site for an undisclosed sum next to its headquarters in the marine precinct. The site is double the size of its existing manufacturing base, which will now grow to 4.7ha.

Maritimo founder Bill Barry-Cotter said it was his company’s most significant investment and expansion since he started it 15 years ago.

“Since the global financial crisis, I have been pushed by the management people to expand, but I have resisted,” he said.

“But I now agree with management it is really worth trying to push to expand. There is a confidence across the board that we can increase production and sell it.”

He said annual production was about 30 luxury yachts and he wanted to hit 40.

“The boats are all getting bigger too and that’s another reason for the purchase of this extra land — long term we are going to develop bigger boats,” Mr Barry-Cotter said.

Maritimo, which has 200 staff, has ramped up its global marketing and earlier this year turned heads by transporting an S59 yacht overland to the birdcage during the Melbourne Cup in a joint promotion with Mumm champagne.

Maritimo has shelled out to buy a 3.09-hectare site neighbouring its existing headquarters in the marine precinct aimed at enabling expansion.

Maritimo also has a separate Hope Island-based Hope Harbour Marina, where it will continue to do servicing and repairs, and will keep a 70-tonne travel lift and undercover marina berths.

CEO Garth Corbitt said the company was continuing to expand globally and Maritimo would continue to market half of its vessels internationally.

It has a network of 44 dealer partners in 16 countries.

Mr Corbitt said international expansion and increasing production had driven the need for growing the site and would allow more vessels to be built in the year ahead.

“This year we have enjoyed record success in Europe and in the USA, and our reach is extending into areas such as South-East Asia, South America and Canada,” he said.

“Word is spreading that the Maritimo brand spells quality, design and style, functionality and, above all, sea-keeping ability.”

It is understood the company hopes to bring back its R&D centre from the Hope Harbour spot.

“Our growth plans are tied to both national and international markets, and continually pushing the brand into new areas,” Mr Corbitt said.

“We have come a long way in 15 years, but there is much more to do.”

The most recent tenants of the site Maritimo bought were Coomera Boat and Storage, and Gold Coast RV Repairs.

The deal was settled on Monday.

Meanwhile, Maritimo plans to unveil a new long-range luxury sport yacht line called the X Series. The first, the $2.2 million X60, will have its world premiere at the Sanctuary Cove International Boat Show in May.