"Larger berths are not widely available in marinas around New Zealand, so we're aiming to catch as much of this growing market as possible.
"Our objective is to be flexible; having catamaran berths allows us to use them either for this purpose or to split them and use them for two mono-hull boats. We will also now be able to offer whatever length of stay a boat owner wants, be it a day or a year."
In addition to the new berths and marine-based infrastructure, the expanded marina will feature a boardwalk frontage and a landscaped recreational area, including seating, barbecues, a performance and entertainment stage and a play zone for children.
FNHL chairman Ross Blackman said the plan was to transform the land-based part of the marina from the "rather sterile, industrial place it is at the moment" into a venue that people would enjoy and take their families to.
"We want to turn this place into one of the main centres for our community. That's good for everyone; the people who live and work here, the people who want to berth here, and the businesses who've set themselves up here," he said.
As part of the project FNHL will contribute to several development projects being promoted by the community. The Love Opua community development group has identified several new initiatives that are seen as important additions to the town's infrastructure. FNHL hopes to start with a fitness trail, originally suggested by Opua School.
"This is a real example of co-ordinated planning by a diverse range of people and organisations in this terrific Opua community," Mayor John Carter said.
"Here we have a significant economic development project being spearheaded by Far North Holdings and tied into a communal vision of what the people of Opua want their town to become."
Mr Nock said he expected an occupancy level of 40 per cent of available berths within 12 months of the extension's completion.
"We will start taking reservations on the berths from December 1, 2016, but are only accepting bookings on half of them, just in case of any delays during construction caused by bad weather or similar unpredictable circumstances," he said.
"We've factored into our financial planning a pretty modest initial take-up reflecting this.
"Also, we've had to turn yachties away for so long due to lack of space; it will take time for the yachting community to realise that berth space is no longer an issue in the Bay of Islands."
FNHL had received seven bids for the contract, three for the marina component, three for the civil engineering works, and Total Marine Services' bid for both elements. An extensive, four-month due diligence period led to the final decision last month.
"We reviewed each of the seven bids against four main criteria - quality, product specification, delivery and service," Mr Nock added.
"The new, expanded Bay of Islands marina needs to be a cut above the average in order to attract new business in what is an extremely competitive market, and this starts with the build quality and the materials used."
Total Marine Services had demonstrated a good understanding of the company's vision for the marina, and had woven that into its submissions, he said. It had made a financially competitive bid, backed by the efficiencies involved in being able to undertake both the marine and civil engineering elements of the project.
Tim Yeates, a director of the Total Marine Group, expected a significant boost to the local economy. Up to 33 staff would be working on the project, nine of those positions being new jobs filled by local people. A number of local sub-contractors would also be engaged.
The start of work will be marked by a community event and celebration, Far North Holdings to announce details as soon as they have been confirmed.
