Hope Harbour Marina listed for sale

by Bob Wonders on 20 Apr 2008 The Hope Harbour Marina and a number of adjoining properties, including the Couran Cove Ferry Terminal and Transit Centre, have been listed for sale.

Prominent Gold Coast developer and major Hope Island land holder John Fish is looking to capitalise on the unprecedented demand for marina berths in Queensland by divesting of his multi-million dollar Hope Harbour Marina.

Colliers International Gold Coast has listed the marina for sale as Mr Fish focuses his attention on the ongoing development of his $2.5 billion Marina Quays development. The marina adjoins the recently completed first stage of his Marina Quays project, the $110 million Harbour Side apartments, and the Marina Quays International Hotel which enjoys an occupancy of more than 80 per cent.

The property's current combined income is in excess of $2.8 million with the potential to increase through further development. The sell-off of one of the northern Gold Coast's most prized assets comes at a time when marina berths are in high demand.

The latest Queensland Midwood Report indicates that the majority of marinas in Queensland are leased at or near total capacity.

Tenders have been invited for the valuable property, with May 15 as the closing date.

The northern Gold Coast facility (not to be confused with the Hope Island Resort Marina) boasts 290 freehold berths, a harbour master’s building, refuelling wharf, a factory suitable for service and maintenance and the Couran Cove facilities.

According to Colliers International, the properties when fully leased have a potential net income exceeding $3.6 million a year.

It is said to provide strong cash flow and offers unlimited growth and development opportunity.
Colliers International lists that the property has the potential for the sale of freehold strata berths or long term leases and the opportunity to further expand on shore facilities such as car parking, boat stacking and additional factory areas.

Brad Johnston and Darrell Irwin, of Colliers International Gold Coast, are marketing the marina for sale.

Mr Johnston said the sale presents a unique opportunity for a buyer positioned to capitalise on the current demand for marine based properties. He said the offering has the potential to freehold existing berths and further develop the shore facilities to expand carparking, boat stacking and factory areas, which in turn would increase the combined income from the facility exponentially.

"The Fish Group has significantly upgraded the marina over the last few years and a great deal of further development potential still remains, so this offering represents a unique opportunity in an area where there are no opportunities of this type remaining," Mr Johnston said.

"Hope Harbour is established as one of Queensland's finest marinas with unrestricted deep water ocean access, superb facilities and a position that provides ready access to Moreton Bay and the Broadwater."


It is believed the tender has attracted strong interest Australia wide.

Colliers International has to date fielded more than 50 inquiries.

An immediate neighbour, overlooking the marina, is the Hope Island plant of Bill Barry-Cotter’s Maritimo.