Situated on Fareham Creek this 65-berth marina is situated close to Fareham town centre and is at present generating an income of around £72,000 per annum from the currently occupied 52 moorings. Prospective purchasers will appreciate that due to the transient nature of a marina there may be more or less than 52 moorings occupied at the point of sale.
In addition, there is a two storey freehold former sail loft, which is at present vacant and which includes an office, store and workshop on the ground floor, while the open plan first floor enjoys lovely views over the marina. It is considered that the building offers scope for additional rental income, as a whole or multiple lets, or perhaps residential conversion, subject to all necessary consents being obtainable. Alternatively, some or all of the building could perhaps be used as a base for management of the marina.
To the side of the sail loft is additional land, which is at present used for parking and storage but which may have scope and potential for re-development, subject to all the necessary consents being obtainable. To the rear of the sail loft, two open railway arches provide additional space and are held under the terms of leases.
The berths at this long established boating facility are held under the terms of a long lease from Crown Estates. The lease to Crown Estates allows for additional berths to be used if required and so there is, at additional cost, undoubted potential for further income and expansion of the business if required.
Tenure
The former sail loft and land adjoining are held on a freehold basis. The berths and boating facilities are held under the terms of an existing lease from Crown Estates, which has nine years remaining. The sellers are at an advanced stage of a lease renewal and it is hoped that the new lease wil be in place prior to the auction sale for a term of 25 years, at an initial rent of £6,000 per annum. Further details will be available in the legal pack.
Local Planning Authority
Fareham Borough Council. Tel: 01329 236100. Website: fareham.gov.uk.
