Australia's first group buying campaign for marina berths has yielded an unprecedented result, anchoring 23 sales in the first week, with buyers pre-registering to secure massive discounts on the final tranche of freehold berths at Hope Island Marina.
Hope Island Marina sales agent Greg Buck and Consolidated Properties project manager Lachlan Grantley at Hope Island Marina
The 'Moor for Less' group buying campaign commenced pre-registrations on May 1 and originally offered berths from $8,000 per lineal metre (plm) - with the figure dropping for every five commitments to purchase. The current sale price for Hope Island Marina berths is now at $5500 plm, but could drop as low as $5,000/ plm - representing a saving of up to $54,000.
Online registrations will continue over the coming weeks, with the deal due to be officially activated over the Sanctuary Cove Boat Show weekend (May 23 - 26).
Consolidated Properties, which owns and manages Hope Island Marina, is using the campaign to clear the decks of all of its remaining berths, which are all freehold and include 14, 16 and 18 metre options.
Consolidated Properties project partner Lachlan Grantley said he was overwhelmed by the response to the campaign to date, and he expected that additional registrations ahead of the Sanctuary Cove Boat Show could see prices pushed even closer to the maximum 60 per cent saving on offer.
'This campaign has helped to activate a lot of buyers who were on the sidelines and thinking about buying, but had not yet made a decision to purchase. These people are acting now because they can see the quality of the marina and the value on offer, and recognise that the power to determine the final prices for these berths is ultimately in their hands,' he said.
'To this end, a lot of purchasers are encouraging their friends and family to come on board to help push prices down quickly - with the price reducing by at least $500/plm for every five purchasers who sign up to the deal.
'We think it's quite an innovative way for us to shift our final 60 berths in one line, and it's a campaign that really works in the buyers' favour. In the 18 months that we have been selling berths at Hope Island Marina, we have not released any below the $7,900/plm mark, which is close to our starting point of $8,000.
'The feedback we are getting is that people are not just looking at the price point for these berths - they are looking at the long-term value associated with securing a freehold commercial asset. Hope Island Marina is one of the only marinas in South-East Queensland where you can own your berth outright, and that's a huge plus considering the shortage of wet berths in the region and right throughout the state.'
Recent research by Place Property shows that Queensland boat registrations have increased by 25,000 vessels from 2008 to the year ending December 2012, with a current total of 245,039 recreational vessels across the state. The Gold Coast still boasts the lion's share, with almost 27,000 registered vessels.
Despite this demand, there are currently only 7,000 wet berths across the state to house the 12,463 boats which measured more than eight metres and therefore were considered too big to trailer.
For more information, please contact Bruce Goddard on 0418 185 209 or visit www.moorforless.com.au
Buyers will be required to place a refundable $2,000 deposit on the day the deal is activated, with the campaign due to run through until June 16 or until sold out. Settlements expected to occur between July and August this year once the final buying price has been confirmed, based on the final number of purchasers.