MA Financial Group is set to acquire Gold Coast City Marina & Shipyard (GCCM) in Coomera, Queensland, adding the marine facility to its d’Albora marina network as it continues to expand along Australia’s east coast.

Gold Coast City Marina & Shipyard

GCCM is located between Sydney and the Great Barrier Reef, a route commonly used by vessels cruising along Australia’s east coast and the wider South Pacific. The area is also outside the North Queensland cyclone belt.

The facility accommodates about 100 vessels in wet berths and more than 280 boats in dry storage. It also includes roughly three hectares of marine industrial tenancies and around 3.5 hectares of hardstand space.

The shipyard includes four sheds used for superyacht refit and maintenance, alongside lifting systems such as 50-tonne and 300-tonne travelifts, 12-tonne and 14-tonne forklifts, and a 45-tonne hydraulic trailer.

Brad Couper, head of alternative real estate at MA Financial, said: “This acquisition delivers significant capability to the d’Albora network, and represents a meaningful addition to the fund. Gold Coast City Marina offers operational diversification across berthing, refit and marine services, tenancy revenue and hardstand offerings. It is a highly complementary addition to our existing portfolio and aligns with our strategy of growing a high-quality East Coast marina platform.”

GCCM opened in January 2000 and has developed into a marine precinct that supports vessels from jet skis to superyachts. Vessels travel to the site from the United States, Europe and across the Asia-Pacific region for repair and refit work.

In 2014, the Gay family became the sole owners of the facility after earlier collaboration with the Leigh-Smith family, which has been involved in marina operations on the Gold Coast.

Julian Biggins, joint chief executive officer of MA Financial, commented: “Marinas represent defensive, cash-generative assets that have delivered consistently strong returns for our investors. Gold Coast City Marina adds a strategically located operation with established earnings to the portfolio.”

The MA Marina Fund acquired the d’Albora marina portfolio from Balmain Corporation for $225 million AUD in April 2023. Today, the d’Albora network includes 16 marinas with locations in New South Wales, Queensland and Victoria.

Biggins added: “We have strong conviction in the long-term fundamentals of Australia’s marina industry. Demand for premium berthing and servicing remains firm, supported by growth in recreational boating activity and increasing demand for integrated marine services. Assets of this size and quality are tightly held, and we will continue to allocate capital where see durable earnings and clear growth pathways.”