The Spit’s big bet: why investors should watch Southport & Marina Mirage on the Gold Coast.
Conveyancing, real estate, property
In this blog/video, we discuss how $1 Billion in waterfront luxury is coming to The Spit - and Southport’s time has finally arrived.
With Marina Mirage being demolished and a new Ritz-Carlton just up the road, the Gold Coast’s most tightly controlled coastal precinct is getting a $1B facelift. Southport sits right across the bridge - and savvy investors are already circling.
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Hi everybody - George Sourris, Empire Legal.
Today's topic: The Spit’s big bet: why investors should watch Southport & Marina Mirage on the Gold Coast.
If you're an investor in Gold Coast property, the next tidal wave of opportunity isn't necessarily in high-rise towers, it's in tightly controlled coastal precincts, and the suburbs that sit just behind them. The Spit is about to transform and that transformation will lift surrounding suburbs, especially Southport.
Let's run through what's unfolding, what it means, and how investors can position themselves. For those that don't know, The Spit is a strip of land that sits just behind Main Beach on the other side of Southport, in the central section of the Gold Coast.
So what's going on at Marina Mirage and The Spit?
First, some quick numbers and facts:
- The iconic Marina Mirage Shopping Centre built in the 1980's, is set for demolition to make way for a completely reimagined mixed use precinct.
- All you La Luna lovers, the restaurant is shutting down at the end of January 2026. That's only four months away, for redevelopment. But don't worry, the floating beach club will remain for the moment.
- The entire Marina Mirage project is budgeted at around $500 million, led by Makris Group, which owns the existing site.
- Makris has partnered with Marriott International, to bring 122 luxury rooms, featuring rooftop pools, event spaces, and waterfront dining.
- The hotel is slated to open in 2027 as part of a broader redevelopment, including villas, apartments, luxury retail, and upgraded marina infrastructure.
- At the nearby Mariner's Cove, a Ritz Carlton Hotel estimated at $480 million is also on the way, creating a dual luxury hub, all within a few hundred meters of each other.
The entire Spit precinct remains governed by the Spit Master Plan, which enforces low rise design, maximum three stories or 15 meters, public amenity integration and environmental safeguard. So, we're seeing a rare combination - world class hospitality brands, tight planning protocols, and strong government backing, a mix that typically drives long-term value.
Why Southport is poised to benefit now more than ever. Southport has long been the "almost there" suburb of the Gold Coast. Good infrastructure, central location, proximity to coastal precincts, but not quite capturing for premium valuations. A "bridesmaid" suburb, if you will. This is of course, despite it being the CBD of the Gold Coast. With Marina Mirage and The Spit getting this level of investment, Southport is about to enjoy a halo effect.
Here's how.
1) Spillover demand. Buyers and renters who want proximity to waterfront but can't afford direct Spit access will look for adjacent suburbs, Southport being the first logical choice - just across the Sundale Bridge.
2) Transport and connectivity. As precincts redevelop, roads, utilities and pedestrian connections are all upgraded, all of which benefit surrounding suburbs.
3) Relative affordability and upside. Southport remains well priced, below Main Beach or the Spit, offering leverage for investors.
4) Commercial and retail flows. The influx of dining, boutique retail and high-end services in The Spit will naturally spill into Southport's commercial core.
5) Psychological rebranding. When luxury hotel chains arrive, perception shifts. Southport's postcode starts to mean next in line or next best.
Now a part I'm super passionate about - the Gold Coast market momentum that just can't be ignored. The Gold Coast isn't just riding the wave, it's making it. In the past year, home values across the region have jumped 9.26%, reaching a new median house price of $1.32 million. That's more than twice the rate of growth of Sydney, at 3.8%.
This puts the Gold Coast in position number two for the country's housing, second only to Sydney. With rapid growth at double that of most major capital cities, people are clueing onto the lifestyle of the Gold Coast and relocating to the Sunshine State.
I've said it before and I'll say it here again on record - the Gold Coast is coming for Sydney's pole position for property values, just give it a few more years.
On the Gold Coast, vacancy remains critically low, and new lot releases continue to lag behind population growth. For investors, that imbalance is everything. Think about supply. It's finite.
We have the ocean on one side and a mountain range on the other. This means a land shortage. Demand is strong, and premium coastal pockets like The Spit, Marina Mirage and nearby Southport are perfectly positioned to capture the next growth phase.
The bigger picture for Queensland property.
The Isles and Marina Mirage developments mark more than a flashy coastal upgrade. They're a blueprint for how Queensland intends to manage its premium coastline moving forward. Expect more master-planned, mixed use precincts that tie private investment into public benefit.
For investors, that means two key things: scarcity and certainty. There's only so much prime land governed by a plan like The Spit's master plan, and the framework creates a level of predictability rarely found in coastal markets.
Southport, sitting just inland, offers exposure to that certainty at a lower entry point. The classic case of the "bridesmaid" suburb that finally gets its moment.
Some final thoughts.
The Spit's $500 million transformation, anchored by global brands like Marriott and Ritz Carlton is more than a development story. It's a signpost for investors. The next cycle of Gold Coast growth will be driven not by new skyscrapers, but by curated low-rise luxury precincts and the suburbs that surround them.
For Southport, it's the perfect storm - lifestyle, proximity, infrastructure uplift, and the new layer of prestige, just across the bridge.
If you weren't thinking of investing in the Gold Coast, don't look past this section, as it's about to get a major facelift.
At Empire Legal, we help investors navigate the fine print beyond these shifts, because when a market moves this fast, the opportunity belongs to those who read the details as closely as the headlines.
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Ladies and gentlemen, please keep in mind that all advice is general in nature and does not constitute legal advice. This is authorised by George Sourris, Empire Legal, Brisbane, Queensland, Australia.
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