Gold Coast’s Sanctuary Cove Floats $3.5m Superyacht Project

Queensland is becoming the superyacht capital of Australia as more marinas expand their capacity for the wealthy sailing elite.

Sanctuary Cove has always been at the forefront of the yachting scene, but owner Mulpha Australia is expanding its offering with an additional 31 superyacht berths.

The real estate investor has spent about $3.5 million on the Pier C development, which takes its superyacht berthing capabilities to 39, addressing the growing demand for permanent and transient berths in the Sunshine State.

It follows the recent $10-million marina expansion in 2021 that included the first undercover berths in the southern hemisphere, according to Mulpha Sanctuary Cove Marina general manager Steve Sammes.

“We are thrilled to officially unveil Pier C as part of our greater superyacht focused plans to address the growing desire from national and international superyacht captains to berth at Sanctuary Cove,” Sammes said.

“The demand for more large-scale berthing opportunities in the south-east is increasing and there is an invaluable economic opportunity to invest in more superyacht-driven piers on our coastline. Sanctuary Cove is superyacht ready, now.”

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Sanctuary Cove Marina was one of seven marinas to receive its Superyacht Ready accreditation within days of the Marina Industries Association’s Gold Anchor and Superyacht Ready accreditations in December 2022, successfully meeting the suitability criteria of the
marina’s infrastructure to accommodate superyachts, accessibility for superyachts, security measures and service availability.

Sanctuary Cove Marina ambassador Francesca Rubi said the superyacht destination would help build sailing tourism in Queensland.

“Australia still has the best coastline. I would love for more superyachts to cross to our waters,” Rubi said.

“Offering more opportunities to berth superyachts at Sanctuary Cove will no doubt be a success. Bigger vessels are being built, people are travelling more in the comfort of their own yachts, and Sanctuary Cove has opened the perfect stop for them—think Palma de Mallorca vibes.”

The Pier C arm development comes after a fleet of new restaurants opened to match the growing demand of local and international visitors, including Pablito’s Mexican Cuisine and Tequilaria, Rise Bakery, Destino Wine Bar, and more.

Article source: Queensland Property Investor