Hotel For Sale – East Coast Marina
East Coast Marina, Manly Harbour’s only privately held marina is being offered for sale as a going concern by Expressions of Interest with Dan McVay and Glenn Bechtel of McVay Real Estate.
East Coast Marina sits between the Royal Queensland Yacht Squadron and Wynnum Manly Yacht Club, within Manly Habour which, according to the Queensland Government, is the largest boat harbour in the southern hemisphere. Being 20 km from Brisbane CBD it offers exceptional convenience, protection and ease of access to the Moreton Bay Marine Park.
The high quality Marina enjoys high occupancy and accommodates 570 vessels – with choice of 330 wet berthing up for vessels to 18 metres and a state of the art 240 Dry Rack storage for vessels up to 10 metres.
The Marina has a commercial hub offering marine related tenancies as well as a bistro. In addition, there are 160 secure car parks. East Coast Marina sits on a total of over 5.6 hectares of long term State leases and has been in the same ownership for 43 years.
The Marina has strong environmental credentials with extensive solar energy and rainwater harvesting and was the first Queensland Marina to be awarded “Clean Marina Status”.
It has recently undergone substantial investment ensuring it is of an exceptional standard to underpin its robust berth pricing metrics. With high demand and limited supply of suitable boat storage, East Coast Marina’s scale and quality provides a platform for potential income growth.
Dan McVay said “The offering of a successful going concern marina, so accessible to metro Brisbane represented a rare and exciting opportunity. With strict environmental conditions to overcome, development of new marinas anywhere in Australia, is a very challenging, drawn out and expensive process. Also, with current plans for some of the 2032 Olympics sailing events focused around Manly it will be a real centre of activity. With current wet and dry berth rentals rates considerably below Sydney rates and the rise in popularity of leisure cruising in South East Queensland, the financial outlook for East Coast Marina looks very positive”.
East Coast Marina is being offered for sale by Expressions of Interest closing 7th September, 2023.
Key Features
- 330 marina berths, dry storage for 240 vessels and 595 sqm commercial buildings
- The only private held marina in the 1800 berth Manly Harbour – the largest in Australia*
- Site area – Dry Lease 1.442 ha / Wet Lease 4.21 ha
- Car Parking ~160 cars
- Held in the same ownership since original development 43 years ago
- Maintained to the highest standard with sustainable energy and water infrastructure in place
- High occupancy with long term tenants and occupiers
- FY 2024 forecast EBITDA of $2,953,374
- Robust asset class with high barrier for competitive development and potential financial growth
