Aberystwyth Marina bought by Cardiff based company

FOLLOWING nearly 2 years on the open market, Aberystwyth Marina has been purchased by Cardiff Marine Group. This will be the third site for Cardiff Marine Group, who also own centres in Cardiff and Swansea.

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The Marina went on sale in December 2013, and this purchase is to be the first step in a number of phased investments in the Marina.

The Group is promising various upgrades to the site, including: upgrading the site’s infrastructure; configuration to increase capacity and improve the layout; and dredging, gathering up bottom sediments and disposing of them.

To help with these planned upgrades Cardiff Marine Group has been awarded £300,000 by the Coastal communities fund, which is meant to encourage sustainable economic growth and jobs, as well as the development of coastal communities across the UK.

The director of Cardiff Marine Group,Christopher Odling-Smee, said:

“We strongly believe in the potential of the marina, which we consider to offer great opportunities for growth. We are currently working with key industry partners including Van Oord, Walcon Marine and the Coastal Communities Fund to develop the plan of investment.”

Marina had been on sale for £2.5m and was believed to be the first to have gone on the open market since 2008. The owners at the time, Merlin Developments, said the 23-acre site could turn over an excess of £300,000 a year but they had decided to sell it so a more experienced developer could take over.

Many are hopeful that the sale will increase more trade for local restaurants and businesses to the Marina, which is close to harbours like Fishguard, Cardigan, New Quay, Aberaeron, Barmouth, Porthmadog, Aberdyfi, and Abersoch.

Deane Clements, funding manager for the Coast Coumminites, said:

“We share a strong sense of place. The funding gives them a welcome boost by supporting the development of their local economies through exciting projects like this.”

Drew McDonald, director of Cardiff Marine Group, added:

“We are delighted to be extending our experience in marina development and management to Aberystwyth Marina. We are pleased to be welcoming Aberystwyth Marina staff to our team and are excited about the opportunities for future growth.”