Aberystwyth Marina to sell for quarter of building cost

marinaY LANFA, the 23-acre marina which sits on the River Rheidol, able to host up to 150 vessels, has been put on the market at £2.5m, only a fraction of its initial building cost of £10m.

The owners, Merlin Homes, said they wanted to sell the site in order to give a ‘more experienced operator’ the opportunity to develop the business further. Annual mooring fees range between £1,745 for vessels up to five metres in length and £3,775 for those up to 14 metres.

It has been predicted that the marina will produce an annual turnover of around £300,000 for its new owners.

Colliers International is the property adviser handling the sale of the marina, which also has planning permission for an additional 40 spaces.

Colliers agent John Rushby stated; “One key benefit of a marina business is that boat ownership is a significant commitment and owners need to berth their craft in a safe environment, and prefer popular and picturesque sailing destinations, such as Aberystwyth…the national average annual cost of a berth is about £3,000, so this healthy income makes marinas a very attractive property investment proposition.”

Rushby added; “Our client has built this corporate quality marina, and taken the business as far as they can but the timing is now right for an experienced operator to take on the marina and bring in revenue from other income streams which offer considerable potential for growth.”

The improvement of the marina is expected to increase house prices in the area, and potentially heighten trade for local restaurants and businesses.