Gold Coast positions to take the title of Australia’s superyacht capital
The Gold Coast is refining its image: superyachts, water, sun and luxury. The rebrand has the backing of council and one of the country’s wealthiest richlisters.
The Gold Coast is looking to shake its “glitter strip” image of night-life and meter maids in a “coming-of-age” linked to luxury and the water.
Known for its golden sands and laid-back lifestyle, the region is quietly and quickly positioning itself to eclipse its ritzy southern counterparts to take the crown as Australia’s superyacht capital, with a suite of new projects set to deliver dozens of new marina berths and boatloads of cashed-up travellers.
Nearly $1.5bn worth of development will be undertaken at the southern end of The Spit at Main Beach in the next four years, which will completely reimagine facilities on the water.
Gordon Corp’s Mantaray Residences will introduce a dedicated superyacht marina with 67 berths, alongside luxury apartments and a floating concierge, while the neighbouring up-market hotel, the Ritz Carlton, will feature 70 moorings.
It is a coming-of-age story for the region, says Urbis’s Gold Coast planning director Pat Heffernan, which will inevitably elevate the holiday town’s reputation to one associated with luxury.
“When you have superyachts turn up, that starts turning you into Monaco, and Cannes and parts of the Mediterranean,” Mr Heffernan said.
“That's the difference between tinnies running around chasing flathead, and … getting into that sort of uber-elite space.
The change is wholehearted backed by City of Gold Coast mayor Tom Tate, who believes the industry has the potential to boost the local economy $330m in the coming years.
“I’m not trying to let too many cats out of the bag,” Mr Tate said.
“But, I would say if you’ve got one of the biggest yachts in the world, the Gold Coast should be on your map.”
As it stands, the Gold Coast has 125 superyacht berths and one mega yacht berth across six marinas, including Southport Yacht Club, Marina Mirage, Mulpha Sanctuary Cove Marina and Sovereign Island Marina.
Mr Heffernan added: “Water views, $11m apartments, super yachts: it has changed the image of what our tourism offering was 10 years ago.”
It was important to include a water element in the Mantaray Residences project, explained Gordon Corp boss Tim Gordon.
“There‘s so many big boats coming into our water,” Mr Gordon said.
“We‘ve got to be matched to the European markets.”
The boost in berths follows a surge in demand for moorings, causing significant shortages around the country.
In 2021, mining billionaire Gina Rinehart called for more facilities to “enable standards of living to rise” ahead of the 2032 Olympic Games.
Ms Rinehart told The Weekend Australian she supports the plans to bolster supply of berths, but insisted “investment further north is also needed”.
International sales director of Ray White Marine Brock Rodwell said the shortage has persisted, with limited opportunities for new projects or redevelopment. Given the Gold Coast is already considered the “refit capital” of Australia, he believes the region has growth potential.
“Sydney Harbour is obviously the mecca for the bigger boats in Australia,” Mr Rodwell said.
“The Gold Coast is certainly the up-and-comer, for sure. A lot of yachts are heading north, I don't think you can get this concentration in one area.”
The region is largest concentration of marine trades in Australia, with dry dock and refit facilities to not only dock yachts, but keep them running smoothly.
“We have the ecosystem and expertise to bring the super yacht right up to new,” Mr Tate said.
It is not just the waterfront projects that are benefiting. The $250m Masthead Ocean Club 40-storey tower at Main Beach is leveraging the Broadwater views as the luxury 28 apartments come to market, said developer Rory O’Brien.
“It’s super exclusive and super private … it’s as good as you’d get in the very best of New York,” he said
“We're just on it on the edge of it but we are 40-stories high, it’s the best of both worlds.”
Further north, Shute Harbour Marina Resort in the Whitsundays is also undergoing a major $350m development, which will see a further 400 berths added to the mix.
