Market Insight

Vail Williams advises The Crown Estate on sale of Welsh marina

January 29, 2018

We’re delighted to have advised The Crown Estate on the sale of the freehold interest in Deganwy Marina to Lakeland Leisure Estates Limited for an undisclosed sum.

Deganwy Marina is a modern, high quality marina and forms part of a prestigious development built in 2004 on the Conwy Estuary, in North Wales.

The fully equipped marina offers 165 berths, with hard standing, car parking and toilets, showers and laundry facilities in the marina building. In June 2015 it was awarded a 5 Gold Anchor rating by the Yacht Harbour Association.

Whilst owned by The Crown Estate, Deganwy Marina has been leased to and managed by Quay Marinas Limited, a respected multiple marina operator.

Gary Thompson, Coastal Asset Manager at The Crown Estate said: “As a business, we focus on sectors where we have the scale and expertise to deliver value. We are delighted to see the Lakeland Leisure Estate team take the Marina forward, ensuring the asset is managed by a specialist in the sector.”

Ian Froome, Partner and Head of Marine and Leisure at Vail Williams LLP, said: “Boasting some of the area’s most fantastic waters, and situated opposite Conwy Castle and Snowdonia National Park, Deganwy Marina represented an exceptional opportunity for the right buyer.

“It was a pleasure to advise The Crown Estate on this deal and we’re pleased to see Lakeland Leisure add to their portfolio with such a high quality marine asset.”

Lakeland Leisure Estates Limited, based near Windermere, is owned by the Morgan family. The company owns and operates three inland marinas on the canal network, and has extensive experience of running caravan parks.

Phill Morgan, Chairman of Lakeland Leisure Estates Limited commented: “We are delighted to add Deganwy to our portfolio. It has been developed to a high standard and offers superb sailing waters, which I have sailed myself over many years, along the North Wales coast. We look forward to working with the staff and boat owners in the future.”

Cooke & Arkwright and Jones Peckover also acted for The Crown Estate.