A significant marina precinct an hour north of Brisbane has sold to Gold Coast developers Ignite Projects, for $12.25 million.
The three development sites at 9-11 Spinnaker Drive, 12-14 Spinnaker Drive and 13-19 Spinnaker Drive Sandstone Point were included in the sale, which encompassed more than 200 wet and dry marina berths, a retail centre with a marina office, restaurant, and cafes plus 2.349sqm of development land.
JLL’s Liam Cox and Christian Tsalikis sold the property to Ignite Projects through an Expressions of Interest (EOI) campaign.
JLL’s Liam Cox
Mr Cox said the campaign attracted significant interest from international developers, resulting in one of the largest marina sales in Australia over the past year.
“Our EOI campaign drew a lot of interest from across Australia and abroad as it’s not often a marina development site of this calibre comes on the market,” he said.
“The marina is a gateway to Moreton Bay, Bribie Island and Pumicestone Passage, not to mention international access to destinations such as Asia Pacific”
Mr Tsalikis said the property’s proximity to the upcoming Olympics in 2032 also piqued a lot of interest.
“Being located less than an hour north of Brisbane meant this property attracted interest from both interstate and international developers ahead of the 2032 Olympic Games,” he said.
“The property is in a prime position to capitalise on the future growth of this region. It presented a great opportunity for a developer to really impact and shape the future of Sandstone Point.”
Director of Ignite Projects, Josh Foote has extensive experience in marina-based development and will be leading the redevelopment of the marina, starting with a new name and a new look.
“Spinnaker Sound Marina is a key piece of infrastructure that is significant in shaping the future growth of Moreton Bay and we are privileged to secure this project,” he said.
“The whole site will undergo a community-driven redevelopment that will see it become a vibrant hub of dining, leisure, and waterside connection, all under the new name of Sandstone Point Marina.
“This will include lush green spaces and shared amenities for the public to enjoy, plus a waterfront development of 67 architecturally designed residences called Anchorage.”
See artists impression below
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
