Premier Marinas Limited has today completed the purchase of Noss Marina from the administrators Duff & Phelps.
The marina was purchased for an undisclosed sum following a period in administration.
Set in 37 acres on the eastern bank of the River Dart in Kingswear, close to Dartmouth, the Noss Marina site accommodates 180 serviced pontoon berths, 47 river moorings and a boatyard operation.
Premier plans to work alongside local stakeholders to design and deliver a mixed use, employment-led, regeneration of the site, most of which the company says is currently in a derelict and unusable state.
This regeneration is expected to bring over £100million of investment into the area, creating a new identity for Noss as part of the Dartmouth and Kingswear community.
Developments are likely to include a new and larger marina; new berth holder facilities; a new boatyard with increased lifting capacity and workshops for complimentary marine activities and a new home for South Devon College, plus a residential development.
Access to the site via the bridge that crosses the Paignton-Kingwear railway will also be improved.
Pete Bradshaw, CEO of Premier Marinas said: ‘We are delighted with the purchase of Noss Marina and are looking forward to working on the regeneration of the site. We take a long term approach to the ownership of our marinas and have the experience and investment capacity to transform Noss Marina.
‘Noss is located in one of the UK’s most beautiful areas and the coastline and cruising grounds accessible from the marina are breathtakingly pretty. We will create a marina to be proud of, we will preserve the character of the site and we will play a proactive part in bringing employment and economic growth to the area.’
‘Sarah Bell, the Joint Administrators are delighted to announce the sale of the business and assets of Noss Marina to Premier that will safeguard the jobs of all the staff, having traded the business over the last 18 months or so. We wish Premier all the very best for the future and expect there will be exciting times ahead with the plans that are being proposed.’
Established in 1994, Premier Marinas is owned by the Wellcome Trust and owns and operates eight other marinas on the South Coast, at Eastbourne, Brighton, Chichester, Southsea, Port Solent, Gosport, Swanwick and Falmouth in Cornwall.
Recent investment projects have included the multi-million pound build of new boatyards and marine retail units at Swanwick marina on the Hamble and at Chichester Marina in Chichester Harbour.
Premier Marinas is up for sale, with an asking price in excess of £220million, the company has confirmed.
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