Boat berth sells for more than the cost of an average house

Real estate website Domain said the berth, numbered B77 and large enough for a 20-metre-plus motor yacht, is part of the Martha Cove Marina off Safety Beach. It was sold a couple of weeks ago for $650,000 compared with the average house price in Melbourne, which is sitting around $550,000.

The berth, sold via a Dromana real estate agent, is 20 metres long and almost 7.0 meters wide. The site was sold as a freehold with a certificate of title, with access to shore power and water. 

The sale comes after warnings that Melbourne and Sydney are starting to run out of mooring spaces for larger motor yachts, particularly for catamarans.

The marina also features a 24-hour fuel dock and around-the-clock security. 

“Located in a boutique setting, Martha Cove offers tranquillity and exclusivity, creating a perfect haven for boating enthusiasts seeking an unparalleled experience,” agents YPA Dromana said.

“Indulge in the ultimate coastal lifestyle and seize this rare chance to secure your own piece of maritime paradise at Martha Cove.“

According to the selling agents, this is the first time that the berth has been offered for sale on the open market.

The ad also points out to buyers that in terms of liveability, the site won’t be very accommodating. “Please note, this property does not have any bedrooms or bathrooms and it is a berth, not a house,” it said.

Mooring fees in Melbourne cost around $100 a night for a 20-metre motor yacht, meaning the berth will pay for itself in just under 18 years at the listed price.

Other smaller berths at Safety Beach are advertised on various websites for around $250,000.