$300 Million Mantaray Marina and Residences at The-Spit on the Gold Coast.

$300 Million Mantaray Marina and Residences at The-Spit on the Gold Coast.

The Spit just north of Surfers Paradise is now the focus of a $1.3-billion trio of projects expected to cement it as one of the country’s most sought-after enclaves for the filthy rich.

Within a few weeks, work will commence on the project and it’s the first on the Spit for 23 years.

Greenlit by the Gold Coast City Council late last year, it will comprise a 67-berth superyacht marina with moorings for vessels up to 60m, a retail plaza, over-water club lounge and 24 apartments fronting the Southport Broadwater, half with private rooftop pools and some with price tags exceeding $20 million.

Gordon Corporation won the tender from the Queensland government to acquire and develop of 9,858sqm vacant site and 1.88ha seabed area at Lot 503 Sea World Drive under a 120-year lease agreement.

It will neighbour a proposed $480-Million redevelopment of Mariner’s Cove by Melbourne-based developers Pelligra Group and Giannarelli Group, which will include a Ritz Carlton hotel and more than 5,000sqm of restaurants and bars.

Nearby, a $500-Million redevelopment of the landmark Marina Mirage retail complex is planned by Makris Group, including 92 waterfront residences and a 110-suite boutique hotel. 

Under the The Spit Master Plan, regulations limit new developments to a maximum height of three storeys and 15 metres “so they integrate seamlessly with the landscape”.

It was released by the Queensland government in 2019 as a blueprint to unlock public and private sector investment to deliver community infrastructure as well as new development opportunities on undeveloped land.

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