MARINA berth sales at Consolidated Properties Hope Island Marina have netted $2.5 million in the last four months.
Following a campaign to market the freehold berths 16 weeks ago, 69 have been made available with 17 sold – equating to around one sale per week.
Project partner Lachlan Grantley says the smallest and largest sites have now sold out.
“It has been a really pleasing result because this is a discretionary spend product and it is a very tough market. It’s only people with a bit of cash to throw around who are in the market – those who have got a boat, or are looking to buy one,” says Grantley.
He says buyers went to either end of the spectrum, because the smaller lots are the cheapest and there was a limited supply in the larger berths. Prices range from $116,060 for a 14m berth to $165,800 for the 20m lots.
“A few have bought multiple berths as an investment, because they know how rare large marina berths are in Queensland and there aren’t many more to come online,” says Grantley.
It is the first batch of berths to come on the market since the initial sale of 235, which started in 2007. Grantley says buyers have been attracted by the one month’s free rent deal offered by the marina’s new management – brothers Keith and Ian Forbes.
Their new management role includes responsibility for the daily operation of the marina, with an emphasis on the short and long term rental of berths.
Ian Forbes (pictured) says the opportunity to secure the management rights to Hope Island Marina was too good to miss.
“We really see the northern Gold Coast – and particularly Hope Island – as a major growth area for the coming years, so we have taken the opportunity to establish our business in boating, which has always been a popular pastime in this region,” he says.
“It’s one of the few marinas in the region offering freehold berths, which represent a great opportunity for owner-occupiers and investors and its location near the Broadwater, ocean and Moreton Bay Islands is second to none.”