New owners talk helm at marine industry giant
One of the Gold Coast’s most significant marine industry businesses has a new owner.
The Gold Coast City Marina & Shipyard, which has been owned by the Gay family since it was founded in 2000, has been sold to Sydney-based MA Financial.
MA Financial, which is listed on the Australian Stock Exchange and has more than $15 billion of assets under management, is no stranger to the marine industry.
MA Financial owns d’Albora, Australia’s largest marina network with 16 marinas throughout Australia, including the Pacific Point Marina and Boatyard at Jacobs Well.
Gold Coast City Marina & Shipyard at Coomera is a 175,000sqm facility servicing superyachts in the Asia Pacific region. It is one of the largest marina and shipyard operations in the Southern Hemisphere, and it attracts The marina national and international clients.
It hosts around 90 different businesses employing more than 800 people.
In past six years alone, Gold Coast City Marina & Shipyard has won awards from the Marina Industries Association, Superyacht Australia, and the Australian Marine Industry Export Group.
The site has a slipway for superyachts of up to 100 metres (328ft), four enclosed 50 metre superyacht sheds, and berthing for yachts up to 75 metres. As well as a 100-boat marina, the site has dry-berthing facilities for up to 280 vessels.
The Gay Group of Companies also had plans to expand into an adjacent 20-hectare sister facility.
MA Financial’s Head of Alternative Real Estate, Brad Couper, said the purchase reflected the company’s desire to buy “quality marine infrastructure assets”.
“This acquisition delivers significant capability to the d’Albora network, and represents a meaningful addition to the Fund,’’ Mr Couper said.
“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.”
MA Financial will own the Gold Coast business through its MA Marina Fund.
“Since acquiring the d’Albora network in 2023, the Fund has focused on investing in the long-term fundamentals of Australia’s marine sector while enhancing the quality, amenity and service offering across its assets.
“The portfolio includes established marinas in recognised boating destinations such as Rushcutters Bay, The Spit and Cabarita Point in Sydney Harbour, alongside assets near Melbourne’s CBD and key regional hubs including Nelson Bay and Akuna Bay in New South Wales.”
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