Marine Services Businesses for sale in Gosport

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PORTSMOUTH HARBOUR BOATYARD & MARINA

Gosport, Hampshire, England

  • Price: OIEO £350,000
Seller Reference: PAX0102902336
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Business Description
 
 
 
 
 
 
 
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Seller Reference: PAX0102902336
Request Details
Business Description
PORTSMOUTH HARBOUR BOATYARD & MARINA
LEASEHOLD BUSINESS FOR SALE

Quay Lane Boatyard
Gosport, Hampshire

KEY FEATURES
• Well established Portsmouth Harbour boatyard and marina
• Level, surfaced boatyard with slipway access to the harbour
• Workshop / chandlery building with boatyard office above.
• Floating pontoon moorings for up to 70 vessels
• 13 Deep water and 22 Semi-tidal buoyed moorings
• Strong sustainable income generated from moorings, boat storage and cranage
• Opportunity for a buyer to introduce additional services, e.g. boat repairs, chandlery, etc.
• Held on a 20 year lease from July 2016 with full Landlord & Tenant Act protection

THE OPPORTUNITY

Quay Lane Boatyard has been in its current ownership for 22 years. The owners now wish to retire so the entire business is for sale as a going concern. This includes all plant, machinery and trade fixtures, providing an opportunity for a buyer to step into a well established business which will generate strong revenue from day one.

The retiring owners undertake boat storage and moorings, but do not offer boat repair and maintenance services. These, or other complimentary services could be introduced by a new owner to add additional revenue.

The owners preferred method of sale is a share transfer of Quay Lane Boatyard Ltd. The land and moorings leases are both held by this company.

The principle revenues are from moorings and boat storage, along with building rentals and boat lifting fees. The sustainable and repeating nature of these incomes are evident in the accounts, which show steady income growth. Total revenue increased for the year ended June 2019 to £217,010, up from the previous year’s figure of £215,712.

LOCATION

The boatyard is well located on the sheltered west bank of Portsmouth Harbour. The harbour itself provides a large area of sheltered water and it provides ready access to the Solent, which is one of the UK’s prime sailing grounds.

In addition to an active yacht racing programme, the Solent benefits from a large number of different locations ranging from the cities of Portsmouth and Southampton, historic towns such as Cowes and Lymington and quieter rural inlets. This range of different locations, all accessible within a short cruising time, justifies the popularity of the location amongst leisure sailors.

Portsmouth Harbour contains around 3,500 licensed leisure moorings, many of which are buoyed moorings, which generates high demand for boatyard services and boat hardstanding. As a result, this boatyard is regularly operating at or close to full capacity.

DESCRIPTION

The property provides the following accommodation:
• Secure, fenced boatyard totalling 0.6 acres
• Foreshore providing storage, slipway and access to moorings
• Additional car park land
• Floating pontoon moorings for up to 70 vessels
• 13 Deep water and 22 Semi-tidal buoyed moorings
• Workshop and chandlery, currently leased to marine engineers
• Admin office and WC block

TENURE

The yard is held on a 20 year lease from 1st July 2016. The sea bed and foreshore is leased from the Crown Estate on a 20 year lease from 1st August 2016.

THE BUSINESS

The business is operated by Quay Lane Boatyard Ltd, all the leases and licences are held by this company. The company’s financial year end is 30 June.

The main sources of income are from boat storage, pontoon moorings, buoyed moorings, yard services and rental income from the sub-tenants. The last four years show a stable trading position, with revenue exceeding £215,000 on a regular basis.

The sale will be as a going concern, to include all trade fixtures, plant and machinery. This includes a 35 ton mobile crane, a tractor with two heavy duty slipway trailers and a 23 foot workboat.

Full trading information, to include company accounts and a plant & machinery schedule will be provided to bona fide interested parties, upon signature of a confidentiality undertaking.

TERMS

The business is offered on the basis of a sale of the shares in Quay Lane Boatyard Ltd. This company holds the leases to both the land and moorings, so the buyer will take control of the leasehold premises as well as the operating company.

Offers are invited for 100% of the shares in the company. The sale will be subject to agreement on the level of working capital cash and stock, which will be valued at cost.

FURTHER INFORMATION

Further details of the business operation will be supplied upon completion of an appropriate confidentiality undertaking. On no account are interested parties to approach the marina staff or management.

For further details contact the sole agents, Vail Williams

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