Amble marina ........£400,000

S

Shilbottler

Well-known member
Guide price 400,000

An investment/development opportunity comprising a long leasehold interest in Amble Marina together with an area of adjacent land
which may be considered suitable for residential development. The Marina is let to Amble Marina Ltd and produces an annual rental income in the region of £30,000. The adjoining land extends to approximately 0.2 ha (0.5 acre) and is currently utilised as an informal car park; the land forms part of a larger site for which planning permission for residential development has previously been granted.

This appears to be for the main lease associated with the land the marina sits on.

A thought:

If 200 boat anglers chipped in £5000 that's 1 big one, enough to buy a marina ?

My fees this coming year will be £1,500 !!!!
 
Shilbottler said:
Guide price 400,000

An investment/development opportunity comprising a long leasehold interest in Amble Marina together with an area of adjacent land
which may be considered suitable for residential development. The Marina is let to Amble Marina Ltd and produces an annual rental income in the region of £30,000. The adjoining land extends to approximately 0.2 ha (0.5 acre) and is currently utilised as an informal car park; the land forms part of a larger site for which planning permission for residential development has previously been granted.

This appears to be for the main lease associated with the land the marina sits on.

A thought:

If 200 boat anglers chipped in £5000 that's 1 big one, enough to buy a marina ?

My fees this coming year will be £1,500 !!!!
Click to expand...

yeah but you'd be buying it with a sitting tennant so still wouldn't be able to park a boat there!

but from that you could work out how money they make on mooring fees. If they have to cough up 30k to the leaseholder, it doesn't take many boats at their rates to get the 30k back

I'd be very surprised if Amble marina Limited don't buy the lease out right themselves. would make good business sense
 
amble

amble

theres a few add ons that come with the lease which is why the duke is trying to sell it on :) one is the cost of dredging,which the new lease holder would have to make a substantial contribution to:( im not :(sure how much it is:confused:
 
I see the marina industry in the North-East being a dying trade. I think the effects are already apparent, more and more anglers giving up moorings and selling up. I'm guessing 40-50% of anglers with boats are retired and it becomes harder to justify the fees each year. From the marina's perspective it is difficult to generate additional income; Amble is a case in point, it is unable to expand assuming the demand was there. Income is finite, there comes a point were customers are driven away by escalating prices.

It would be possible to have a good guess at the profits, simply estimate the income from the boats moored there and deduct money for the mortgage, wages, lease (30,000 in this case) council tax, maintenance, electricity, insurance, VAT, garbage collection...etc. Only the mortgage would be a real unknown.

I think a figure of 400,000 a year wouldn’t be too far from the mark as far as income goes after paying VAT income would be around 330,000. Wages are the biggest item lets just say 6 x 20,000 for owners that would simply be their drawings that leaves 210,000 obviously we subtract the lease of 30,000 giving 180,000. There appears to be a bit of ‘slack’ there! Only dredging and mortgage would be difficult to estimate hey we can always obtain the accounts for a small fee anyway. The last set of accounts were submitted on the 29 July 09.

To my mind it could be in the interest of the boating fraternity to make an offer for the marina itself and run it as a non-profit making organisation assuming it was for sale. Everyone has their price.

In terms of investment it could provide a decent return if you intend being a long term angler or boater. It's a damn sight better than putting your money in the bank.
 
Back
Top