Marina Mirage Mega Revamp Drifts Closer

27/11/2023

THE URBAN DEVELOPER

The wind is back in the rooftop shade sails of the waterfront Marina Mirage retail and dining precinct on the Gold Coast with plans for its $500-million redevelopment finally moving forward.

The wind is back in the rooftop shade sails of the waterfront Marina Mirage retail and dining precinct on the Gold Coast with plans for its $500-million redevelopment finally moving forward.
Gold Coast City Council’s planning and environment committee this week recommended the proposal for approval.
It now must be taken to a full council meeting on December 4 to be ratified and given the green light.
Meanwhile, Makris Group—the asset’s longstanding owner founded by Adelaide-based billionaire Con Makris—says it is in the final negotiations with one of the world’s largest boutique hotel brands to deliver more than 110 resort rooms as part of the redevelopment.

It also says it is in early discussions with a top-tier contractor with a view to starting construction as soon as possible, pending the development’s approval.
Lodged with the council in February this year, the mega-facelift plans also include the addition of a third floor as well as a limited residential component of luxury apartments and villas overlooking the Gold Coast Broadwater.
Under the plans, new shine also would be given to the high-end, 1980s-built complex through “a selection of world-class restaurateurs carefully curated to further enhance the culinary offering”.
Well-being and rejuvenation is touted as a central theme of the mixed-use development’s revival, including a hand-picked selection of Australian retail boutiques.
The Main Beach asset’s landmark rooftop shade sails will be maintained but repositioned as part of the Elenberg Fraser-designed scheme, which includes the opening up its central courtyard.
Makris Group snapped up Marina Mirage for $52 million in a receiver’s sale in 2013 and a year later acquired The Oracle retail and office precinct at Broadbeach for $65 million.

“Marina Mirage is unique to Australia’s east coast and is the most prominent parcel of land on The Spit,” Makris Group executive chairman Con Makris said.
“Our proposed redevelopment embodies a long term and responsible strategy to deliver a sustainable asset that benefit present and future generations.”

According to Gold Coast-based Makris Group chief executive Jason Makris, the Marina Mirage transformation aims to be fully realised in 2027 well in advance of the 2032 Olympic Games.
He said the project aligns with the Queensland government’s The Spit Master Plan, which outlines a vision to revitalise the area into an ecological tourism, recreation and leisure destination.
“With state support, the Gold Coast is now well positioned to embrace our exciting, multifaceted world-class development,” Makris said.

The redevelopment would generate 500 direct jobs during construction and 460 direct and indirect jobs during the operational phase.
Construction of a 78-berth superyacht upgrade to the asset’s marina facility was recently completed and the approval recommendation for the long-awaited revamp of the complex comes as a new era of development beckons for The Spit.
Ground is soon expected to be broken on the $300-million Mantaray Marina and Residences project being developed by Tim Gordon’s Gordon Corporation and pub baron Bruce Mathieson. It will comprise a 67-berth superyacht marina with moorings for vessels up to 60m, a retail plaza, floating club lounge and 24 luxury apartments fronting the Broadwater.

The go-ahead also has been given to the $480-million, six-star Ritz Carlton hotel and superyacht marina development on the Mariners Cove site.
The new hotel will feature 150 guest rooms and suites as well as a signature restaurant, three bars, rooftop pool, ballroom and a large boardwalk. Melbourne-based developers Ross Pelligra and Dion Giannarelli are behind the project.

Article Source: The Urban Developer 
Development: Marina Mirage Redevelopment