MA Financial’s $33 Million Acquisition to Deliver Manly Harbour Expansion

East Coast Marina Manly Harbour
Photo Credit: Google Maps

MA Financial has made a significant move in the maritime sector by acquiring East Coast Marina in Manly Harbour for $33 million amidst a surge in development within the alternative asset class.



The purchase of East Coast Marina, located 20km south of Brisbane CBD, was facilitated through an expressions-of-interest sale conducted by McVay Real Estate in August 2023. This acquisition, the 13th marina purchase for the group, expands its portfolio significantly. 


The site includes 330 berths, dry storage for 240 vessels, 595 sq m of commercial buildings, and 160 carparks, making it a substantial addition to MA Financial’s holdings.

East Coast Marina Manly Harbour
Photo Credit: Google Maps

MA Financial already holds marinas at Rushcutters Bay, The Spit, Batemans Bay, Port Macquarie, and Cabarita Point in Sydney Harbour, as well as two near Melbourne CBD.

This latest transaction underscores the company’s commitment to diversifying its portfolio and capitalising on the growing investor interest in alternative real estate assets.

Government Support for Maritime Development

The acquisition coincides with government initiatives to bolster maritime infrastructure. 


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The Queensland Government recently announced funding for a new 42-berth marina at Morningside near the Gateway Bridge, aimed at supporting marine tourism operators affected by floods and waterfront developments across Brisbane.

Additionally, plans for a $200-million expansion of the Rivergate marina, transforming it into a superyacht shipyard, are underway.

Rising Interest in Alternative Real Estate Assets

Originally established as Moelis & Company in Australia in 2009, MA Financial was listed on the ASX in 2017. 

MA Financial joint chief executive Julian Biggins highlighted that the East Coast Marina acquisition aligns with the firm’s strategy, catering to the increasing investor interest in alternative real estate assets. 



The MA Marina Fund, which targets an annual distribution yield exceeding 7 per cent and a 13 per cent plus internal rate of return, aims for further growth through value-add projects and additional acquisitions. 

Published 19 February 2024