Another canal side property for sale

[Tim Lewis]

Fenny Marina, complete with cottage, for sale:

 

Large canal marina on six-acre site near Leamington to be sold for at least £950,000 (warwickshireworld.com)

[magnetman]

Is this a pre-NAA marina? 

 

 

[cuthound]

4 hours ago, magnetman said:

Is this a pre-NAA marina? 

 

 

 

You would have to moor there for a long time to break even on licensing costs, even with the proposed above inflation increases...

 

[jonathanA]

indeed,  say £200K income from 85 berths+dry dock. outgoings would be CRT NAA  - 20%?, bus rates, insurance, water, utilities (maybe some income from resell of electric at cost), maintenance etc...  thinking you could make a reasonable living but not a licence to print money...  

 

does include the accommodation on site, but not sure i'd want berth holders knocking on my door at midnight complaining the toilets were blocked.... 

 

 

[Tonka]

53 minutes ago, jonathanA said:

indeed,  say £200K income from 85 berths+dry dock. outgoings would be CRT NAA  - 20%?, bus rates, insurance, water, utilities (maybe some income from resell of electric at cost), maintenance etc...  thinking you could make a reasonable living but not a licence to print money...  

 

does include the accommodation on site, but not sure i'd want berth holders knocking on my door at midnight complaining the toilets were blocked.... 

 

 

Maintain the drains 

[magnetman]

1 hour ago, cuthound said:

 

You would have to moor there for a long time to break even on licensing costs, even with the proposed above inflation increases...

 

I was thinking from a business point of view. It seems like a really nice business for someone if they have 85 moorings. 

 

 

[frangar]

2 minutes ago, magnetman said:

I was thinking from a business point of view. It seems like a really nice business for someone if they have 85 moorings. 

 

 

It will be interesting to see what it sells for...as with all auctions the guide price is usually the lowest that would be accepted...Im guessing it will go for a lot more...prob around £1.5-£2m...unless there is something odd happening which there might be to sell through auction rather than via a business broker or agent...and of course there is the auction fees to add as well.

[magnetman]

I haven't looked at the listing but presumably it is freehold. 

 

I wonder what the deal is if a marina becomes porous and starts draining water from the canal. 

 

 

 

Somebody once told me their theory which was that by building a marina one may improve the chances of building houses on the land later, on this rather crowded little island. 

 

Just a theory but maybe easier than if it was just a field. 

[jonathanA]

5 minutes ago, frangar said:

It will be interesting to see what it sells for...as with all auctions the guide price is usually the lowest that would be accepted...Im guessing it will go for a lot more...prob around £1.5-£2m...unless there is something odd happening which there might be to sell through auction rather than via a business broker or agent...and of course there is the auction fees to add as well.

yes it will be interesting  to see what it goes for and who buys it. Also why an auction - previous business gone bust ?

 

i can't see how you could make more than £50K  year (being optimistic) and if i had  £1.5M laying about I could do better than that with out the hassle of running the business by simply giving it to an investment manager.  if you don't have the capital, I don't see how the business could fund it unless there is some other significant income stream.  

 

presume one of the 'chains' will buy it to add to their portfolios. 

[magnetman]

How much are the moorings? 

 

If it was 85 Boats paying £3k each that is quite a lot of income from moorings. 

 

Rent the house out. 

 

Dry dock already rented out. 

 

Only £50k? 

So thats 17.5m for £2316. 

 

£132 per metre. They have 1500m of mooring so IF it is full that is £200k but of course if it is pontoons it won't be full. 

 

 

[Js north]

Gorgeous 

[ditchcrawler]

41 minutes ago, magnetman said:

How much are the moorings? 

 

If it was 85 Boats paying £3k each that is quite a lot of income from moorings. 

 

Rent the house out. 

 

Dry dock already rented out. 

 

Only £50k? 

So thats 17.5m for £2316. 

 

£132 per metre. They have 1500m of mooring so IF it is full that is £200k but of course if it is pontoons it won't be full. 

 

 

A few empty slots when we came through, I don't know if they also own the online moorings towards the pub, but there wasn't a single boat on them when we came through just after Christmas

[frangar]

53 minutes ago, jonathanA said:

yes it will be interesting  to see what it goes for and who buys it. Also why an auction - previous business gone bust ?

 

i can't see how you could make more than £50K  year (being optimistic) and if i had  £1.5M laying about I could do better than that with out the hassle of running the business by simply giving it to an investment manager.  if you don't have the capital, I don't see how the business could fund it unless there is some other significant income stream.  

 

presume one of the 'chains' will buy it to add to their portfolios. 

There was a rumour a few years ago that it was trying to slip on to the railway line next door....dont know how true this was if at all...but it is quite close and if so that wouldn't be a cheap fix.

 

I would think either one of the chains or there is another private marina owner who has brought up another similar sized marina recently and now has a small portfolio of midlands marinas...not sure who their backers are mind you. 

[Stroudwater1]

13 hours ago, jonathanA said:

yes it will be interesting  to see what it goes for and who buys it. Also why an auction - previous business gone bust ?

 

i can't see how you could make more than £50K  year (being optimistic) and if i had  £1.5M laying about I could do better than that with out the hassle of running the business by simply giving it to an investment manager.  if you don't have the capital, I don't see how the business could fund it unless there is some other significant income stream.  

 

presume one of the 'chains' will buy it to add to their portfolios. 

It was for sale in August 2022 and mentioned in this thread then. Presumably not sold so up for sale via an auction, or bought and being sold again, though less likely . It’s not that unusual to try a different mode of sale if not selling via one estate agent. 
 

The link doesn’t work to the estate agents particulars but helpfully MtB commented on the asking price of £1.35m later down the thread. 
 

 

[David Mack]

1 hour ago, Stroudwater1 said:

The link doesn’t work to the estate agents particulars but helpfully MtB commented on the asking price of £1.35m later down the thread. 

Rightmove link still works for me, albeit that the photos are dulled out. You just have to scroll down.

Current auction link at https://www.bondwolfe.com/auctions/properties/233818-property-auction-southam/. To get to that I had to scroll past loads of uninspiring residential and commercial properties, which suggests this auctioneer doesn't normally deal with this sort of sale. Is that a good way to get the best price?

[colinnorth]

I am happily moored there. The Marina was put up for sale in the Summer of 2022. The 'big boys' came and had a look. I think it was not big enough for them with no chance of enlargement. The moorig rates (as previously stated) have not been increased for several years and are well below the other marinas around. I am not aware of any slippage into the railway, the bund and roadway seem very secure and well built/maintained. The marina does not own the canalside moorings between the marina and the pub. The electrical supply is very good and well made, there is electricity to every mooring and water available on every finger (jetty) all within an easy hose length. The office accommodation is sound, there is fibre based wi-fi throughout. There is only one toilet/shower available to tenants - this is fine bearing in mind it is a non-residentail marina. There is a drydock with a large attached workshop. There is a store for coal/firewood next to the Calor gas locker and diesel tank/pump, there is a pump-out and an elsan emptying point. Attached to the office is the (new) small chandlery and the (old) much larger chandlery which could easily be converted into a clubhouse/bar. The location of the bungalow lends itself to being rented out to a 'site manager' and is sufficiently fenced off to deter anyone calling the occupant with trivial problems.

The only really necessary work that I can see coming up in the next 10 years is to replace the fingers/jetties as they were built many years ago on scaffold poles and some are becoming a little rickety. If it were not for this point, I would happily put in a bid. I will be watching the auction on-line with interest.

[Tacet]

On 17/01/2024 at 16:25, magnetman said:

How much are the moorings? 

 

If it was 85 Boats paying £3k each that is quite a lot of income from moorings. 

 

Rent the house out. 

 

Dry dock already rented out. 

 

Only £50k? 

So thats 17.5m for £2316. 

 

£132 per metre. They have 1500m of mooring so IF it is full that is £200k but of course if it is pontoons it won't be full. 

 

 

Less VAT for starters

[ditchcrawler]

Another place for sale with a yard Andrew Dixon & Co.: Property: Orwell's Coal Yard, Victoria Wharf (andrew-dixon.co.uk)

[MtB]

19 hours ago, ditchcrawler said:

Another place for sale with a yard Andrew Dixon & Co.: Property: Orwell's Coal Yard, Victoria Wharf (andrew-dixon.co.uk)

 

Its not for sale, its for rent. £25k a year. 

 

What a bleak and miserable place it looks too!!

 

 

 

[Tacet]

Gravesend Canal Basin

 

One to suit both canal and tidal water enthusiasts.  Unsure whether or not it would appeal to railway buffs.

[agg221]

38 minutes ago, MtB said:

 

Its not for sale, its for rent. £25k a year. 

 

What a bleak and miserable place it looks too!!

 

 

 

We moor less than a mile from there so go past it every time we move the boat. The photos do not do it any favours but it definitely has potential, but of the sort which a freehold owner/occupier would realise, not a renter. It has been used in the past as a convenient site for boat repair as you can get a crane right alongside.

 

32 minutes ago, Tacet said:

Gravesend Canal Basin

 

One to suit both canal and tidal water enthusiasts.  Unsure whether or not it would appeal to railway buffs.

Coincidentally another place I have a connection to, having gone to school just up the road. If the industrial estate right next to it hadn't obliterated the link to the canal, which was in water just beyond the estate, then it would have a lot of potential.

 

Alec

[ditchcrawler]

A couple of moorings on the Mac Land for sale in The Wharf, SK11 (rightmove.co.uk)

[matty40s]

11 hours ago, ditchcrawler said:

A couple of moorings on the Mac Land for sale in The Wharf, SK11 (rightmove.co.uk)

Potential to get rid of those dirty boaters and build a lovely detached property .....

[Mike Tee]

And plenty of space to put up a 6’ fence so the plebs on the water can’t be seen from the sun deck....... might need some fans to get rid of the stinky diesels.

[IanD]

2 hours ago, matty40s said:

Potential to get rid of those dirty boaters and build a lovely detached property .....

Assuming you get planning permission, obviously... 😉