The recent purchase of an adjoining boatbuilding facility by Maritimo could mean the Australian builder will design larger yachts and possibly move into the superyacht sector, according to several local media sources.
The Courier-Mail reports that Maritimo recently acquired the property beside its existing location in Coomera for about A$6m. The new property has a 4,267sq m building designed 20 years ago for boatbuilding. It would bring Maritimo’s total manufacturing space to 9,314sq m. The new site is double the size of its existing manufacturing base, which will now grow to 4.7ha.
Maritimo founder Bill Barry-Cotter told the Gold Coast Bulletin that the purchase was his company’s most significant investment since it started 15 years ago. “Since the global financial crisis, I have been pushed by the management people to expand, but I have resisted,” he said. “But I now agree with management it is really worth trying to expand. There is a confidence across the board that we can increase production and sell it.”
Barry-Cotter said that its annual production numbers stood at about 30 yachts, which he wants to increase to 40. “The boats are all getting larger,” he said.
The Courier-Mail quoted unnamed industry sources that Maritimo plans to build 27m-plus superyachts.
Maritimo currently has about 200 staff and 44 dealers in 16 countries.
CEO Garth Corbitt told the Gold Coast Bulletin that the company continues to expand globally. Maritimo sells half of its vessels outside of Australia. That expansion means increased production. “This year we have enjoyed record success in Europe and in the USA, and our reach is extending into areas such as South-East Asia, South America and Canada,” he told the paper.
Daniel Coburn, a real-estate broker from Colliers International, fielded 28 inquiries for the property. Many interested were from the local boatbuilding industry. “The property represented an ideal grab for the adjoining owner with expansion literally able to be obtained through the back fence,” Coburn told the paper.
Maritimo plans to unveil a new long-range luxury sport yacht line called the X Series. The A$2.2m X60 will premiere at the Sanctuary Cove International Boat Show in May.