Gold Coast Spit development one step closer

by Jeni Bone on 1 Jun 2009 The Gold Coast's $2.5 billion superyacht terminal and marine precinct on The Spit is one step closer, a project that will capitalise on the potential of the area's most scenic waterway and attract international events and investment.

Infrastructure and Planning Minister, Stirling Hinchliffe says the state government has shortlisted three bidders for the southern development area of the marina and superyacht project: AIA Consortium (Ariadne Australia, Investec bank and Abacus Group Holdings); Broadwater International Consortium (Watpac and the Seymour Group); Broadwater Quays Consortium (City Pacific, Leda Holdings).

The southern area stretches from Mariners Cove south to the Southport Yacht Club, with room for about 200 boats including a commercial development on 2.3ha of land.

The northern development area goes from the Palazzo Versace resort up to Sea World with berths for 350 boats up to 30m long, and 30 superyachts of up to 100m.

Gold Coast City Marina is part of one of the consortiums shortlisted for development of the northern area.

Although mooted in 2007, the project has been delayed by recent financial tightening which led financial services group Babcock and Brown, the Raptis Group and City Pacific stepping back from the tender process.

Mr Hinchliffe says that the Government remained committed to the project to “ensure growth in the state's tourism and marine industries”.

'This project will deliver the Gold Coast much-needed, world-class marina facilities and also protect the much-loved public space and recreational areas at the northern end of The Spit,' he says. 'It has the potential to create hundreds of new jobs, during construction and in the tourism and marine industries.'

It is anticipated that development of the Broadwater will attract international events to that precinct, following a complete dredging program.

The combined Gold Coast Marine Development project will include: Marina berths on the western side of The Spit for about 550 boats including super-yachts, recreational and fishing boats, tourism projects on two parcels of crown land south of Sea World, improved public space in Doug Jennings Park and surrounding areas of The Spit.

Tenders are expected to be announced this year, with construction due to start in 2011.