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June 10, 2008 03:53pm

Gore in $200m marina coup bidPeter Gleeson

10Jun08

BUSINESSMAN Craig Gore is pulling together a $200 million deal, with the help of two rich mates, which aims to give him control of about 2400 lucrative marina berths.

The deal involves the acquisition of five separate sites, including John Fish's Hope Island Harbour with 290 berths and the Townsville Breakwater and cruise ship sites, with another 1000 berths.

It is also understood Mr Gore has sights on another landmark Gold Coast marina with 300 berths and is exploring the acquisition of Martha Cove in Victoria, which has 800 marina spots.

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The acquisition process, over the past three months, involved extensive negotations with embattled Gold Coast company City Pacific Limited, which owns the holdings to all of the sites except Mr Fish's Hope Island marina.

The deal effectively centres on Mr Gore's parent company being restructured to include equity from billionaire UK businessman Lord Michael Ashcroft and American motorsport figure Kevin Kalkhoven.

Lord Ashcroft is a joint partner with Mr Gore in Aussie Vineyards, the wine company that is exporting Australian wine to the US, while Mr Kalkhoven and Mr Gore now share in ownership of Team Australia, the Indy racing team which has Aussie Will Power as its top driver.

Mr Gore yesterday refused to comment on the deal while City Pacific boss Phil Sullivan said he had been talking to 'a number of interested parties' about his company's marina holdings.

Mr Sullivan said he was talking to 'three or four groups that are looking to buy our marina berths'.

"We have half a dozen marinas on the Queensland coast," he said.

The Bulletin understands an announcement will be made today to the Australian Stock Exchange about the Gore joint deal.

Lord Ashcroft is one of the UK's richest men and in December, 2005, he was appointed deputy chairman of the UK Conservative Party. Over the past two decades he has formed a unique collection of more than 140 Victoria Cross medals.

He was knighted in 2000.

Mr Kalkhoven until recently owned the Open Wheel Racing Series, which hosts the Surfers Paradise Indy race, and has now been merged into the Indy Racing League.

He made a fortune as a venture capitalist in California in the dotcom boom.

Mr Fish, who is developing the Marina Quays residential project at Hope Island, has put the 280-berth marina out to public tender and has received interest from more than 50 parties.

The Townsville component includes the Breakwater marina precinct and a proposed ocean terminal project, which includes a future development area comprising hundreds of residential home sites.

Mr Gore's bid for a slice of the marina berth market comes as the industry goes through a boom because of the extraordinary growth in boat registrations in Queensland during the past five years.