Marina industry to ride out perfect storm

Written on the 17 April 2009

 

MERIDIEN Marinas are expecting strong ‘recession-proof’ growth in Queensland, with recent boat registration figures on the rise.
CEO Warwick Bible says the Brisbane-based company predicted the marina boom some years ago with the foresight to prepare, and as there is a shortage of berths in Sydney and Perth there is likely to be increased activity in Queensland.
“The figures show very promising signs for all marina developments with boat registrations over 10m growing by 8.3 per cent compared to October 2007,” says Bible.
He says February 2009 figures for registrations grew at 5 per cent on an annualised basis, presenting a new wave of opportunity in tough economic times.
“What’s keeping the marina market buoyant in choppy times is the demand for boats and the number of boats remains greater than the marinas to moor them.”
He cites tough regulations and long approval waiting times as reasons why many developers are reluctant to build, and with increased environmental requirements it is unlikely many new marinas will appear in Australia any time soon.
“This means those marinas that are built or nearing completion will be the only berths available possibly for many years,” he says. 
“There is definitely a shift to marina berths as a solid, long-term investment. We had a retired couple walk in and buy four marina berths at Horizon Shores (Gold Coast). They’re not boaties — they simply bought the berths for their superannuation fund and to diversify away from the volatility of the stock market.”

Latest News

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter