Gold Coast City Marina and Shipyard secures investment
GCCM has been awarded AUS$20 million by the Queensland government for its expansion project…
Gold Coast City Marina and Shipyard (GCCM) has been awarded AUS$20 million by the Queensland government to undertake Stage II of its expansion project. Upon completion, lifting capacity at the refit facility will rise to 1200 tonnes, while the site itself will double in size.
This investment is an impressive and welcome demonstration of commitment to the superyacht industry by an administration, despite the torrid economic conditions facing governments across the world. Indeed, in 2018, the state government published a five-year superyacht strategy whereby it committed a share of the $518 million Advance Queensland Initiative to investing in the superyacht industry.
The government also committed to providing a dredged sediment management facility to ensure the waterways between Sanctuary Cove and GCCM are maintained with a depth of 3.5m, to maintain access for superyachts of a certain size between the two points.
In recent times, GCCM has experienced an influx of domestic and international superyachts seeking to undertake major refits, maintenance and repair work to an international standard. “The number and size of yachts selecting GCCM for their refits is only getting bigger,” explains GCCM CEO Trenton Gay.
“We need to keep pace with and anticipate the future needs of our customers. With this investment from the LNP, Stage II will certainly do that by increasing the Gold Coast’s lifting capacity four-fold; a 75-metre yacht will be able come directly from the South Pacific to our facility to be lifted.”
GCCM has already made significant investments into Stage II securing a 20-hectare site on Beattie Road, as well as working with leading architects, town planners, environmental engineers and liaising with industry.
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