The Spit: First look at giant superyacht marina and luxury development by Tim Gordon
The former home of the Gold Coast’s most famous gym, once the exercise space for celebrities, has been gutted out and transformed, to serve a new purpose.
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AUSTRALIA’S first dedicated private superyacht marina will be built on The Spit this year, with the state government giving the green light for a $100m development.
Gordon Corp’s Mantaray Marina and Residences will be the first new development built on The Spit since Palazzo Versace was completed 23 years ago and will be launched to the market in March, the same month construction of the marina begins.
Developer Tim Gordon, who has been awarded a 120-year lease on the site for an undisclosed sum, said he wanted to catapult the Gold Coast into the upper echelons of global superyacht destinations.
“The state government’s vision for this site, and The Spit Master Plan as a whole, is to be commended,” he said.
“Mantaray Marina & Residences represents the first new development on The Spit since Palazzo Versace more than 20 years ago, and our investment in this precinct will create one of the world’s most coveted Superyachting destinations.
“The development will provide a strong link between The Broadwater and the Pacific Ocean through an activated retail plaza, residential apartments, public boardwalk, and Australia’s first dedicated Superyacht marina facility.”
The complex will feature 67 berths of up to 60m each for superyachts in its marina.
A sales display has been opened in the former Golden Door gym site on The Spit ahead of its own expected redevelopment into a resort.
The residential building, which is just three storeys tall in keeping with the Spit masterplan, will have just 24 units.
Documents filed with the Gold Coast City Council show the project is expected to create more than 300 jobs during construction and 100 jobs once fully operational.
Its construction will begin just a year after the city’s first superyacht facility opened at Southport Yacht Club.
Built by the council, the $9m berth at the southern end of the Broadwater allows vessels of up to 130m to dock and is tipped to inject at least $12m annually into the economy.
Mayor Tom Tate welcomed news of the project’s approval.
“Our famous have-a-go-spirit is alive and well through the vision being shown by people like Tim Gordon,” he said.
“Our council heavily backs the marine industry, including an expansion of Gold Coast super yacht facilities.
“We have endorsed a dedicated council policy to back the expansion of not only berths but the logistic support these vessels require.
“The aim is to diversify our economy and continue to attract the biggest and best super yachts on the planet, so I say all aboard.”
Mantaray Marina and Residences is one of a raft of new developments planned for the southern Spit.
Melbourne-based developers Pelligra Group and Giannarelli Group unveiled plans in 2022 for a three-storey precinct that will include a six-star branded hotel, floating beach club, more than 5000sq m of restaurants and bars and a “white glove” superyacht marina at Marriner’s Cove.
The developers bought the precinct’s lease in an off-market sale from its owner Ridong, which was planning its own $100m Chinese-themed seafood market, dining precinct and aquatic entertainment centre.
SUPERYACHT INDUSTRY SALES ‘AS BUSY AS EVER’
GOLD Coast superyacht manufacturers say they are “as busy as ever” as they work to fulfil hundreds of orders from eager buyers.
Maritimo boss Bill Barry-Cotter said demand remained strong, despite supply chain issues.
“We are as busy as we have ever been and there is one particular model of boat we make which has more than 100 on order,” he said.
“The desire to buy superyachts remains very strong, which is great.
“However there is a supply chain issue as well as labour shortages which have had an impact.”
Inquiries for superyachts skyrocketed in 2020 following the onset of the Covid-19 pandemic, with hundreds of millions of dollars in boats ordered across the country.
Superyacht Australia CEO David Good told the Bulletin that year that there had been an 80 per cent year-on-year increase in superyacht economic impact.
The Boat Works boss Tony Longhurst said his 70 sheds were “100 per cent booked”.
“The activity has far exceeded our wildest expectations, even five-fold and we are well-placed for the future,” he said.
“The Gold Coast’s marine industry is coming into its own and we are seen as a great pit stop for people stopping in while travelling between north Queensland and Sydney.
“The industry is really thriving and right now we have 1000 people employed here at the marine precinct.
“It’s got three restaurants and plenty of other facilities and has become its own little town.”
An independent report compiled by Griffith University in late 2022 revealed The Sanctuary Cove International Boat Show, where many superyachts are sold, now injects nearly half a billion dollars into the city’s economy.
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