Company: Gillingham Marina
Business Type: Marina Operator
UK & International Business Sales and M&A News
Gillingham Marina, together with a sports and health club, has been sold for an undisclosed sum.
New owners have acquired the two basins which have a capacity for up to 490 boats, and the Waterfront Leisure Centre across a 19-acre site at Gillingham Marina.
New owners husband and wife team Gary and Rita Beckwith previously owned City Cruises, the largest river cruise company in the UK which ran sightseeing and dinner cruises on the Thames in London. They also operated water-based excursions in Poole, Dorset and in York.
Terry Gabriel, Managing Director of Gillingham Marina Ltd, said in a letter to berth holders:
“The reason for the purchase and long-term goal of the directors is to improve the site as a whole but particularly, the marina area within the complex. We believe there is scope to develop the site to offer an improved experience for berth holders.”
Terry Gabriel – Managing Director of Gillingham Marina Ltd
Gillingham Marina, situated on the south bank of the River Medway, has been operating a yacht repair facility since the 1970s and caters for both leisure and commercial craft.
In 2000 the repair operation moved into new buildings, comprising of 18,000 square feet of modern purpose-built heated workshops, including two climate controlled paint spraying booths, and is able to accommodate vessels of up to 85 feet and 65 tons undercover.
The business then diversified into the commercial and insurance repair market, providing a comprehensive range of services from emergency repairs to complete refits, with customers including the Port of London Authority, RNLI and M.V.Havengore.
It has been recognised by The Yacht Harbour Association’s Five Gold Anchors award, which it has held for 25 years.
The business yielded its income from various sources, principally berthing and yard charges, as well as membership fees from the leisure centre which closed permanently last February due to lockdown. Other marina facilities include a bar and restaurant, a large chandlery, laundry, children’s playground, refuelling point, helicopter landing pad and on-site car park.
The site was put for sale by Savills in March 2021 and was hailed as an “attractive redevelopment opportunity”.
Kay Griffiths, Savills’ Associate Director in the Leisure and Trade team, said:
“Gillingham Marina offered an exciting opportunity for investors to acquire a well-established marina.
“We received strong interest in the sale as the marina has extensive facilities and opportunities to add value and we are delighted to find an experienced leisure operator that intends to invest and develop the site further to benefit of its users.”
Kay Griffiths – Savills' Associate Director in the Leisure and Trade team
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