$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

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

TREASURY WINES UNCORKS SWEET $269M PROFIT DESPITE INVENTORY WOES

REVEALING the fruits of its past year of labour, Treasury Wine Estates (ASX: TWE) has posted a 55 per cent increas...

TATTS GROUP POSTS PROFIT AND REVENUE DROP ON FEWER JACKPOTS AND BAD WEATHER FOR RACING

TATTS Group (ASX: TTS) has posted a full year net profit loss of 5.7 percent and a revenue decline of 8.4 per cent as...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter