$12.25m deal for Moreton Bay marina

A major marina precinct in Moreton Bay has been sold to Gold Coast developers Ignite Projects, for $12.25 million.

The sale involved three Sandstone Point development sites at 9-11 Spinnaker Dr, 12-14 Spinnaker Dr and 13-19 Spinnaker Dr.

It includes more than 200 wet and dry marina berths, a retail centre with a marina office, restaurant and cafes plus 2349sqm of development land.

Plans, revealed in the Moreton Daily last year, will see Spinnaker Sound Marina rebranded as Sandstone Point Marina.

JLL’s Liam Cox and Christian Tsalikis sold the property to Ignite Projects through an Expressions of Interest (EOI) campaign.

Mr Cox said the campaign attracted significant interest from international developers, resulting in one of the largest marina sales in Australia in the past year.

“Our EOI campaign drew a lot of interest from 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.”

Interest at home and abroad was also sparked by the upcoming 2032 Olympic Games.

“The property is in a prime position to capitalise on the future growth of this region,” Mr Cox said.

“It presented a great opportunity for a developer to really impact and shape the future of Sandstone Point.”

Director of Ignite Projects, Josh Foote will lead 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 site will undergo a community-driven redevelopment that will see it become a vibrant hub of dining, leisure and waterside connection, under the name 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.”