Just one year after the completion of the $100 million marine infrastructure expansion that resulted in the creation of the superyacht refit facility and marina berths, The Boat Works has entered Stage 3 of its development with an additional $30 million investment in the creation of a new services hub for marine professionals. The new workshop expansion is the final opportunity for marine businesses to secure tenancies in the two yards located in the Gold Coast Marine Precinct, with over 60 per cent already leased.
According to The Boat Works, construction has been spurred on due to high demand and the exponential growth experienced since the opening of the additional northern yard. The extra capacity has attracted vessels from 24-75m for both in and out of water service, maintenance and refits. This influx, in conjunction with a surge in boat purchases, has created domestic job opportunities.
“It is boom time in the boating industry. More boats equal more jobs,” comments Shane Subichin, general manager of The Boat Work. “COVID travel restrictions mean Aussies are holidaying more at home. Owning a boat gives them the freedom to explore the coastline and islands all over Australia.
“We are seeing a tremendous increase in boat and boat sales, additional haul-outs and survey inspections each week. The 80-plus tenants based onsite are experiencing a steady flow of work and many are reporting a marked rise in demand and are hiring more skilled trade to keep pace.”
Continued expansion works are in the pipeline at The Boat Works to incorporate additional refinishing works sheds that will complement the options within the boatyard and superyacht facility.
The investments on going at The Boat Works are one of a number of major infrastructure projects that’s are underway in Australia. As the superyacht industry continues to push towards being a truly global enterprise, it is essential that top quality services are available to superyachts no matter where they choose to cruise. Australia is now firmly established as the primary refit destination for the Asia Pacific market and as neighbouring countries continue to push charter reforms across the line and develop their own infrastructure, the wider region is only likely to grow in quality and popularity.
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