Horning Pleasurecraft acquires Cove Marina
Horning Pleasurecraft Ltd has acquired Cove Marina in Brundall, near Norwich, for an undisclosed sum.
Cove Marina is an owner-managed business located on the River Yare on the Norfolk Broads. Comprising of a two-acre site, it has two basins containing 75 moorings and two private moorings. It also offers a crane-out facility for winter storage, an anti-fouling service, and pump-out facility.
The business had a guide price of £1.5 million, with Savills acting as advisors to the vendor David Fletcher, who has been operating the site for over 20 years.
“My father bought the land in the 1950s and I have run it as a marina for 23 years. However, it is now time for me to retire and I am very pleased that I am handing over the reins to Clive.”
David Fletcher - Owner of Cove Marina
Horning Pleasurecraft, based on the Norfolk Broads, is a marina operator and boat hire business. It has 85 private mooring berths at Horning, from where it also operates the hire fleet.
It also runs as a repair and maintenance facility for private boat owners, as well as manufacturing its own-design boats from workshops in Catfield and Horning.
Clive Richardson, owner and director at Horning Pleasurecraft Ltd, sees the acquisition as a boost to the business.
“We are really happy to be given the opportunity to become the new custodians of the excellent business that David has built over the years.
“Horning Pleasurecraft Ltd operates a marina in Horning with a small hire fleet, so the acquisition of Cove Marina is an ideal complement to our portfolio.”
Clive Richardson – Owner and Director at Horning Pleasurecraft Ltd