Why underwater blocks are hot property

Lot 7/10 Santa Barbara Road, Hope Island, is on the market for $109,000

It’s literally underwater, but this type of tiny block of ‘residential land’ on the Gold Coast is in such short supply, investors are among those banking on them.
Measuring from 16m to 30m – and priced from $90,000 to $250,000 – freehold marina berths on the Gold Coast are rare, according to agent Lorraine Drysdale of Ray White Hope Island.
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Marina berths vary from 16m to 30m.

Hope Island Marina has a range of freehold berth sizes.

“These berths are just like buying a block of land but it has water on it and of course you can moor your boat there or rent it out,” is how Ms Drysdale describes it.
At Hope Island, a protected harbour and on site marina manager plus 24-hour security add peace of mind, with “low body corporate – high rental returns”.
The marina berths also open for sale to foreign citizens who are nonresidents and “you don’t even have to own a property in the resort to purchase”.
Ms Drysdale currently has one berth listed for sale on realestate.com.au with colleague Sally Overton – a 16m one at Lot 7/10 Santa Barbara Road priced at $109,000 within the Hope Island Resort Marina.
“Hope Island Marina is one of the few marinas in South East Queensland where you can own a marina berth outright – not leasehold but freehold ownership. That means you literally own the land under the water and it is your own private berth to moor your boat or rent out to another boat-lover.”

Lot 7/10 Santa Barbara Road, Hope Island, is one of the few freehold berths for sale on the Gold Coast.

The cheapest marina berth available on Hope Island for rent is at $15 a day, according to service provider rentmyberth, which amounts to $5475 a year for its owner if fully taken up. A more common rental rate is $45 a day, or $16,425 if fully taken out all year – one of which is also at Hope Island Marina. Another available at Surfers Paradise is also $45 a day for a 15m by 5m berth that’s 15 minutes drive to Marina Mirage.

A popular area for visiting boaties.

Closer to Brisbane, one berth owner on rentmyberth is asking $475 a month ($5,700 year) for a 12m monohull site at Horizon Shores Marina Woongoolba, near Jacobs Well. Another is asking $96 a day ($35,040 year) for boat parking on a private pontoon with optional ‘stay-ashore’ self contained boathouse that sleeps two.
Ms Drysdale described the Hope Island marina as being “a very popular area for boaties visiting the Gold Coast” as well as owner-occupiers looking for somewhere to stash their boats without having to fork out high rental prices.

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