A PLAN to float some of the biggest luxury boats ever built on the Glitter Strip is believed to be behind a recently-settled property deal in the city’s marine precinct at Coomera.
Gold Coast luxury boat builder Bill Barry-Cotter’s Maritimo has significantly expanded its footprint with the $6 million acquisition of an adjoining facility at 9 McPhail Rd.
All parties involved in the deal are remaining tight-lipped about the future plans for the 3.1ha site next to the company’s existing headquarters in 15 Waterways Drive.
But according to marine industry sources, it is understood Barry-Cotter is looking to up the ante in the local boatbuilding stakes with a strategy to manufacture 27m-plus (90ft-plus) superyachts.
It is also believed his plans for the site include the staged development of additional buildings.
The veteran boatbuilder – who founded both Riviera and Maritimo – has himself previously hinted at upscaling the size of Maritimo’s luxury motor yachts.
Latest research indicates the number of superyachts on order and under construction worldwide is on the rise and the market is expected to experience “robust growth” during 2017-2022 on the back increasing numbers of super-rich clientele.
The industrial facility purchased by Maritimo at 9 McPhail Rd, Coomera, in the Gold Coast marine precinct.
Maritimo’s purchase of the McPhail Rd property increases the site of its Coomera manufacturing base to 4.66ha.
The property comprises a 4267sq m industrial building purpose-built 20 years ago for marine and boatbuilding activities but in more recent times leased to a number of tenants.
Its addition increases the Maritimo’s total manufacturing plant under roof to 9314sq m, excluding office space.
Pat Cavanagh and Daniel Coburn from Colliers International, who negotiated the sale in conjunction with buyer representative Leonie Smith, fielded 28 inquiries during the expressions of interest campaign.
Interested groups included local occupiers, interstate investors, developers and international marine users.
Artist impression of the new Maritimo X60 which the Gold Coast boat builder says will take luxury sports yachts to a whole new level – basically a boat that isn’t super yacht size but has the facilities of one.
“The property represented an ideal grab for the adjoining owner with expansion literally able to be obtained through the back fence,” Mr Coburn said.
Mr Cavanagh said the sale reflected the continued strong market conditions for industrial assets across the Gold Coast.
“And with the majority of inquiry being from within the marine industry it’s also a reflection of the resurgence in that industry over the past five years,” he said.