Superyachts: Gold Coast Broadwater berths for floating palaces on fastrack
Negotiations to fast-track a superyacht facility in the Gold Coast Broadwater have begun. But it can be revealed there’s an urgent need to build the floating palace berth which could mean millions for the city’s economy.
Gold Coast
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MAYOR Tom Tate is ready to splash out millions on superyacht berths as talks are fast-tracked for Gold Coast docks tipped to attract more lucrative floating palaces into the city.
A proposed terminal, which has been allowed for in the Spit Masterplan, is being targeted for a site on the southern Broadwater near the refuelling station at Southport Yacht Club.
Gold Coast’s Mayor Tate has thrown his support behind it, revealing to the Bulletin his council is prepared to put up 25 per cent of the price tag, expected to be $7-9 million.
MILLIONS OF COMMERCIAL DEVELOPMENT PLANNED FOR SPIT
Both political and boating industry leaders are warning funding must come quickly, pointing out the project must be completed by September 2020 for the America’s Cup in New Zealand.
More than 140 international superyachts are expected to be passing Australian waters at the time and city leaders say the Gold Coast would be well placed to capture the lucrative traffic.
WHAT’S INCLUDED IN SPIT MASTERPLAN
“There is $35m for the Spit masterplan in this year’s council budget. It’s skin in the game and the project I find interesting that we are going to fund together with the state is the superyacht facility,” Cr Tate said.
“This will mean two 80-metre yachts will be able to dock next to the yacht club.
“It will be 25 per cent city, 25 per cent state and the balance from the yacht club. It will be a joint venture and this will enable superyachts to come.
“This is part of broadening the economy.”
A proposed berth has been in the works for more than three years and was included in the Spit Masterplan as part of a lengthy community consultation process.
The State Government unveiled its final masterplan late last month.
According to early plans the berth will be large enough to host either a 160m boat or two 80m vessels.
No dredging would be required.
Southport Yacht Club general manager Brett James said the facility would be a “game changer” for the Gold Coast.
“It would be unique to Queensland and this needs to be done by September 2020 when there will be more superyachts in Australian waters than ever before for the America’s Cup,” he said.
“There is already a waiting list of 140 vessels which have registered interest in coming and they will be travelling down Australia’s east coast and would be able to stop in here.
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“We are already having to knock back one superyacht a month right now so having this would be a game changer.”
It is estimated there are more than 5000 superyachts worldwide, with around 200 based in Australia.
State Development Minister Cameron Dick said the facility was an “exciting project for the Gold Coast, aligns with the Masterplan and the Queensland Government’s Super Yacht strategy”.
“After 18 months of work this is the first time fast-tracking this specific project has been raised,” he said last night.
“My Department will now engage with council and the Yacht Club to further this project, noting the Department has been advised there are native title and tenure issues that must be resolved before the project can proceed.”
Industry cheerleader Superyacht Australia estimates the economic value of the sector will grow to $3.34 billion by 2021 up from $1.96b in 2016.
Businesses across the Gold Coast are investing significant funds into the superyacht industry in a bid to attract a larger share of the market.
The Bulletin revealed last month Tony Longhurst’s The Boat Works was beginning a $100 million expansion, including a superyacht precinct.
The Gold Coast last month hosted the third annual Australian Superyacht Rendezvous, founded by Gold Coast City Marina CEO Trenton Gay who has been lobbying for more lenient Federal laws to boost Australia’s attractiveness to superyacht charters.
His event saw 20 vessels with a total value of more than $250 million turn up.
Destination Gold Coast chairman Paul Donovan has also backed increasing investment in superyachts.
“It’s a great initiative and with superyachts comes the big end of town,” he said.
“They bring the big money and spend when they are here.”
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