British Waterways Marinas Ltd, a subsidiary of the UK’s Canal & Rivers Trust, is to sell all 18 of its marinas with a deadline for interest set for April 6, 2018.

Marina Property Specialist Ian Froome of Vail Williams is handling the sale, and says there is a lot of interest in the industry, mostly from existing marina operators, with some international interest as well.

“Once we’ve handled the April 6 deadline, we will draw up a short list and then undertake full due diligence,” he said.

The portfolio of 18 marinas began with the purchase of ten marinas in 2003, with others subsequently added. There are three coastal and 15 inland marinas, of which four are on river navigations. Of the 18, 17 are ‘Gold Anchor’ accredited by The Yacht Harbour Association. In total there are some 2,520 berths of which 28% (699) are residential. The statutory reported income from the group in 2016-17 was £8.1m

BWML says the Canal & River Trust is looking “to focus more on its core priorities and to secure long-term revenue from its investments. The waterways have always benefited from private sector investment and this is also a good opportunity to introduce more private sector capital and energy into the sector.

“All proceeds from the sale of BWML would be invested in other income-generating assets, so as to deliver further sustainable revenue funding for maintaining the historic waterways in the Trust’s care.”

After a sale, the Trust would continue to receive income from network access agreements from the purchaser(s) of the business. By reinvesting the capital from the sale, it hopes to generate a long-term revenue income.

 

Photo shows flight of locks at Caen Hill, Devizes.

www.vailwilliams.com

ifroome@vailwilliams.com