Mantaray Marina and Residences: Pair of units sell for $12m each inside Tim Gordon Spit development
A pair of units worth more than $12m each have sold to members of the same family, with a leading developer revealing who is buying inside his $300m project. SEE THE PICTURES
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A pair of units worth more than $12m each have sold to members of the same family as prominent developer Tim Gordon launches his $300m Spit development to the market.
The Paradise Waters family snapped up two four-bedroom villas at the project, which will be built on a vacant site next to Mariner’s Cove and will be the first new development to be delivered under The Spit Masterplan.
Mr Gordon said local buyers had made up the bulk of interest in the three-storey, 24-unit complex.
“Those who live and breathe the Gold Coast are very passionate about The Spit, they have a connection to this place and understand the rarity of the opportunity,” he said.
“There are only a finite number of residences that can ever be built on this protected peninsula, with the balance of developable land predominantly dedicated to hotel and recreation uses.”
The sale comes just months after a Melbourne buyer put up $28m to buy one of the complex’s penthouses.
Mr Gordon in December 2022 was awarded a 120-year lease on the site for an undisclosed sum by the state government.
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.
Units in the complex range from $4.1m, with the four-bedroom roof terraces starting from $11.1m each.
The penthouses will be at least $14.1m.
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.
“The new display immerses superyacht owners in the world we are creating,” he said.
“It is without compare and it’s important for our purchasers to have the privacy and space to experience it.”
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