Aberystwyth Marina, a 150-berth facility on the west coast of Wales, has been acquired by Cardiff Marine Group in a multi-million pound deal.
The purpose-built facility was sold to the owner and operator of 350-berth Cardiff Marina by the specialist Parks, Sports and Marinas division of real estate advisors Colliers International on behalf of joint receivers at Begbies Traynor. Colliers International have advised Cardiff Marine Group since its incorporation in 2007.
Aberystwyth Marina – which has planning permission for additional berths – was at the time, the first substantial coastal marina to come to the open market since the onset of the recession in 2008.
John Rushby, Yachtmaster and Head of Parks, Sports and Marinas Advisory and Valuation at Colliers International said: “Marinas such as Aberystwyth tend to be sold off market, so when they do go up for sale on the open market they attract significant interest.
“Yachting has grown enormously in popularity over recent years, but due to planning constraints there has been a severe lack of new berths around the country to satisfy this growing demand. The national average annual cost of a berth is about £3,000, so this healthy, secure income makes marinas a very attractive property investment proposition.
“Aberystwyth Marina offers one of the best marinas in Wales and was established by a local developer who also regenerated the surrounding area. An experienced operator such as Cardiff Marine Group can drive this established business and realise the considerable potential for growth.”
Drew McDonald, director of Cardiff Marine Group, commented : “We strongly believe in the marina’s potential, it provides easy access to a fabulous boating environment and we love the town of Aberystwyth.
“The purchase itself represents the start of a series of phased investments in the marina. We will be upgrading the infrastructure, improving the configuration and layout to increase capacity and we will complete a dredge of the basin.
WWe welcome the Aberystwyth Marina staff and will be looking to grow the team to further support our new berth holders.”
Aberystwyth Marina is located in the centre of the coastal town of Aberystwyth in central west Wales, on the banks of the River Rhiedol close to its coastal estuary in the south western area of the town. Several Welsh harbours and marinas are within easy reach.
Aberystwyth Marina also offers easy access from Birmingham (it is known as the home of the “Birmingham Navy”), the Midlands and surrounding areas.