Competition heats up for Newport Marina

Investors and developers are circling a Queensland marina with an eye to developing a retail and residential hub.

Located about 30km north of Brisbane International Airport, the 200-berth recreational Newport Marina, near Redcliffe, is one of only a few marinas on the market nationally and is located in the midst of a strong and growing catchment area.

Colliers International National Director Darrell Irwin says potential investors have already shown a keen interest in the site.

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“Since launching the property to market we have received 25 genuine enquiries and several inspections from investors in Brisbane, Sydney, Melbourne, as well as New Zealand.

“No new marinas are under construction so it’s a rare opportunity in itself, but combined with significant residential growth in the immediate catchment and future redevelopment opportunities, Newport Marina is a winner.”

Longer term, however, the configuration of the freehold land allows the ability for redevelopment of the existing 15,793sqm freehold land

Irwin says the marina currently offers an annual income of about $720,000, but also has potential  for residential and commercial development on its 1.5ha freehold landholding, subject to Moreton Bay Regional Council approval.

Newport is considered a growth suburb of north Brisbane, with Stockland undertaking earthworks on 1640 lots of land opposite the marina, and it is expected that any future redevelopment of the marina site will include retail and commercial premises on the ground floor and residential apartment living above.

The marina is located adjacent to a Stockland development.

“The marina business is likely to benefit greatly from the high residential growth in Stockland’s Newport estate with its imminent land release, combined with the strong residential growth forecast within the greater catchment north of Brisbane,” Irwin says.

“Longer term, however, the configuration of the freehold land allows the ability for redevelopment of the existing 15,793sqm freehold land, subject to council approval.”

Newport Marina comprises 15,793sqm of land in two titles and a marine seabed lease of two titles of about 3.546ha.

No new marinas are under construction so it’s a rare opportunity in itself

The marina provides mono and multi-hull berths ranging from 9m to 20m and total lineal metres equating to 2591m of marina, with facilities including male and female amenities, storage lockers and sheds, a barbeque area and pavilions and fenced boat hardstand storage.

The marina also comprises a single-level building that incorporates a management office and commercial/retail tenancies with a lettable area of around 309sqm and an onsite parking and storage area for 220 vehicles.

Newport Marina is being sold by Irwin and Geoff Lamb, from Colliers International’s special projects division, via an offer to purchase campaign that closes on May 5.