Our specialist team of marine and leisure property consultants was appointed by the Canal & River Trust to market a small 1.3 acre marina and boatyard located on the Peak Forest Canal in Derbyshire.
The marina had fallen into disrepair as previous tenant failed to carry out essential repairs and maintenance. The tenant company had gone into administration and the marina had been taken back by freeholders, the Canal & River Trust.
As a registered charity, the Trust needed to get best possible value out of the sale of the marina, either through investment directly into the site and its facilities, or rental income.
How we helped
Using specialist knowledge of the inland waterways market, we generated interest from potential tenants, both locally and from other inland waterways operators nationwide
Carried out informal tender process, selected Pridewater Estates as preferred bidder
Drew upon expertise of our lease advisory experts to recommend lease clause which would ensure tenants carry out renovations of the highest standard
Following in-depth negotiations, agreed a new lease, including obligation for tenant to invest in substantial refurbishment of the entire site.
Transformed from a semi-derelict site into arguably one of the best mooring facilities on the entire Peak Forest Canal.
Refurbishment and rebuilding works included:
- Replacement of all landing stages
- Building of new facilities blocks, offices and stores
- Improvement to paths, roadways and parking facilities
- Free Wi-Fi installation for moorers
- Improved site security.
The site now boasts several extra canal berths and high-quality berth-holder facilities, as well as a workshop for a local microbrewery, holiday accommodation and a Certified Location caravan site.
As a result of the specialist advice we were given by Vail Williams’ marine and leisure consultants, we have achieved not only a valuable new tenant to run the marina, but have also succeeded in transforming it into one of the best facilities on the canal. By ensuring that the renovation of the canal was written into the terms of the lease agreement, Vail Williams was able to ensure we got the best possible outcome – both for the Trust and the users of the canal.
Simon Moore, Business boating surveyor at the Canal & River Trust.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.