We are pleased to announce that MFG has completed the acquisition of Balmain Marina from Cornerstone, securing a highly strategic waterfront asset on Sydney Harbour. The transaction, originally completed on 17 July, marks a major milestone in our ongoing expansion across the maritime and property sectors.
The site comprises approximately 1,500m² of waterfront land plus the existing marina, which is currently home to the Sydney Harbour tugboat fleet operated by Svitzer. As part of the acquisition, Svitzer has signed a new 20-year lease, retaining existing berths as well as their headquarters and workshop facilities, located across Ground to Level 2.
Marine Expansion and Ahoy Club Integration
MFG will be progressing plans to expand the site’s marine infrastructure to 17 berths, positioning 7 Cooper Street as a potential home for the Ahoy Club yacht fleet. This expansion will establish the site as a major integrated maritime hub supporting both commercial operations and luxury vessel activities.
Ian Malouf, commented:
“This acquisition reflects our confidence in Sydney’s working harbour and our long-term plans for Ahoy Club. The combination of Svitzer’s essential operations and our future expansion will transform 7 Cooper Street into a world-class maritime precinct.”
*Future Marina Expansion
Long-Term Development Vision
In addition to marine infrastructure upgrades, several long-term development options are being explored by Peter Wilding, CEO of MFG, including:
1. Marine Business Precinct
A high-quality workshop, office, and marine services precinct designed to attract and support harbour-based businesses.
2. Luxury Mixed-Use Residential Precinct
A world-class development concept incorporating:
Food & beverage, hospitality, and showroom facilities across the basement and ground floor
Up to seven levels of luxury residential living above
Both pathways have been designed to maximise the site's long-term potential and strengthen MFG’s position in key waterfront locations.
Peter Wilding CEO of Malouf Family Group, said:
“Our vision is to create a truly world-class mixed-use marine and commercial development that will set a new benchmark for architectural excellence on Sydney Harbour. The ultimate success of this project depends on positive engagement with the local community, our neighbours, Inner West Council and the NSW Government. We are committed to working collaboratively to ensure the precinct becomes an asset that tenants, owners and the broader public will all be proud of.
A Significant Long-Term Asset for the Group
This acquisition underlines our commitment to securing rare and strategically important waterfront properties capable of supporting operational growth, long-term tenancy, and future redevelopment potential.