MA Financial has acquired Gold Coast City Marina & Shipyard in Australia on behalf of its marina fund.
The asset manager has bought the marina and shipyard in southeast Queensland for the MA Marina Fund, complementing the MA Marina Fund’s existing portfolio of 16 d’Albora marinas, which laid the foundation for the fund, which now has assets of around A$500m (€309m).
The purchase price of the Gold Coast asset was not disclosed, but the deal was reported to be worth A$50m.
Located in Coomera, Gold Coast City Marina is an integrated marine precinct accommodating about 100 vessels in wet berths and more than 280 in dry storage. It is underpinned by approximately 30,000sqm of marine industrial tenancies, including four superyacht sheds and around 35,000sqm of hardstand.
MA Financial’s head of alternative real estate, Brad Couper, said: “This acquisition delivers immediate scale and capability to the d’Albora network, and represents a meaningful addition to the fund. Gold Coast City Marina offers operational diversification across berthing, refit and marine services, tenancy revenue and hardstand offerings.
“It is a highly complementary addition to our existing portfolio and aligns with our strategy of growing a high-quality east coast marina platform.”
Julian Biggins, joint CEO of MA Financial, said: “Marinas represent defensive, cash-generative assets that have delivered consistently strong returns for our investors. Gold Coast City Marina adds a strategically located operation with established earnings to the portfolio.
“We have a strong conviction in the long-term fundamentals of Australia’s marina industry. Demand for premium berthing and servicing remains firm, supply of well-located assets is constrained, and replacement costs are increasing. Assets of this scale and quality are tightly held, and we will continue to allocate capital where we see durable earnings and clear growth pathways.”
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