Spinnaker Sound to rebrand as Sandstone Point Marina as redevelopment plans chart a new future for the waterfront precinct.
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.
Mr Cox said the campaign attracted significant interest from international developers, resulting in the largest marina sale 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 marine-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.”
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