$530m marine precinct planned

Written on the 1 December 2010

JUNE 2010

MARINE industry heavyweight Bill Barry Cotter has thrown his financial muscle behind a $530 million expansion of the marine precinct at Coomera pending council approval.

The 63.5ha site on the northern side of the existing Coomera Marine Precinct has been earmarked for one of the largest integrated marine industry developments in the state.

It is a joint venture between Barry Cotter and Brisbane-based developer Property Solutions Australia. The project would create 4800 jobs during its construction and a further 4600 jobs on its completion.

Barry Cotter paid $30 million for the site in 2006.

“It has taken a bit more time to get it going than expected and once we get all the approvals through, we will sell it off and also keep some for ourselves,” he says.

“It will give Maritimo direct river access once we relocate. The remainder of the site will be sold off as industrial and residential.”

Planit Consulting director Boyd Sargeant, is developing plans for the project. An environmental impact study will be undertaken this month with full approvals expected to take 18 months.

“The plans will deliver another much needed marina in Coomera and also include facilities for the marine industry a TAFE, a yacht club, and commercial outlets,” says Sargeant.

“As part of the project, we will be building a 390-berth marina and a 290-berth dry stack storage complex. We have a developed a plan that is environmentally friendly and yet delivers the functional requirements of a growing marine industry.”

Barry-Cotter last month acquired the financially stricken Mustang Marine in a deal with fellow offshore powerboat racing enthusiast and Swagman Motorhomes owner Steven Searle.


Latest News

STAFF CHURN BLAMED FOR MCGRATH EARNINGS DOWNGRADE

MCGRATH will fail to meet earnings forecasts after some of its star real estate agents defected to growing Perth firm...

MCBAIN RESIGNS AS BELLAMY'S DIRECTOR WHILE THIRD CLASS ACTION MOVES CLOSER TO SECURING FUNDING

LAURA McBain (pictured) has resigned as a director of Bellamy's Organic (ASX: BAL) today, effective immediatel...

REDBUBBLE TO MISS IPO FORECASTS

REDBUBBLE, the online marketplace for independent artists, will miss a series of forecasts set out in its IPO in its ...

BLUESCOPE CONTINUES STRONG RUN WITH GUIDANCE UPGRADE

BLUESCOPE Steel (ASX: BSL) is trading up 7.51 per cent at $11.16 per share after upgrading its half-year guidance thi...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter