Wed, 03 Apr 2024 | COMMERCIAL PROPERTY
Port Dinorwic Marina, a grade II-listed marina in Wales, has been sold on behalf of administrators. Port Dinorwic Marina Ltd, the company behind the marina, fell into administration last year, appointing Azets.
The marina has now been sold on behalf of Azets to The Waterside Consortium, a newly formed company comprised of local investors.
The marina, which was previously operated by The Marine and Property Group and can trace its history back to 1763, provides year-round cruising in the Menai Strait, which separates Anglesey and North Wales.
Joint administrator and Azets restructuring partner Simon Monks said that the marina “has had its challenges in recent years” but that the sale out of administration to a new owner “will enable the necessary investment to create a thriving marina that staff, berth holders and local community can be proud of.”
The Waterside Consortium’s Andrew Barton commented: "The whole process of purchasing Port Dinorwic has been a journey through the highs and lows of any business acquisition. Throughout the process, Azets and Christie & Co were both communicative and informative, providing the necessary support to guide us to a successful conclusion and the deal was completed in the end based upon trust, honesty and integrity."
Jon Patrick, head of leisure & development at Christie & Co, added: "Considerable interest in Port Dinorwic resulted in multiple offers for the business being received, a number from owners of holiday park businesses in and around the Northwest, as well as community-based investors, lifestyle buyers and multi-site marina operators.”
Patrick continued that Christie & Co had seen " a marked increase in marina and marine related advisory work throughout 2023, with further new marina instructions already confirmed in Q1 2024."
Click here to download our free guide on finding and buying distressed businesses and assets
Luxury public service hire business for sale situated in the South West due to retirement. The business supplies refined and standard lavatory trailers to the event market.
The business publishes a fortnightly print and digital magazine, covering UK and international engineering industry news, machinery updates, financial insights, and company profiles. With a readership exceeding circa 45,000 globally, including 20,000...
The business was first established by our client in 2023, building up an excellent reputation and regular customer base during its short time trading. As seen by the online ratings and reviews, the business is extremely popular within the area.
LEASEHOLD
07
|
May
|
In vitro diagnostics regulatory consultancy acquired by listed firm | BUSINESS SALE
Abingdon Health, a listed diagnostic test manufacturer based...
07
|
May
|
UK administrations update: April 30 – May 7 | ADMINISTRATION
Since our last update, the following businesses have been co...
07
|
May
|
Plant and vehicle hire group acquired out of administration | BUSINESS SALE
A Leicestershire-based supplier of specialist plant and vehi...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.