Deganwy Marina sold for The Crown Estate

Considerable interest from marina operators and other investors in the leisure industry

24 January 2018

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Deganwy Marina on the Conwy Estuary in North Wales has been sold on behalf of The Crown Estate by joint agents Cooke & Arkwright to Lakeland Leisure Estates. Developed in 2004, the marina is one of the finest and most modern in North Wales and is an important part of the leisure and tourism industry. Lakeland Leisure Estates has acquired the freehold interest and will take over the management and operation of the marina on 31st March 2018, upon expiry of the current lease, held by Quay Marinas.

Rod Perons, Director at Cooke & Arkwright, said, “Deganwy Marina is situated in a beautiful location with access to excellent sailing waters and the facilities all along the coast, including the harbours of Pwllheli, Caernarfon, Conwy, Porthmadog, Aberdovey, Barmouth, Holyhead and Beaumaris. The sale generated considerable interest from marina operators and other investors in the leisure industry.”

Gary Thompson of The Crown Estate said, “As a business, we focus on sectors where we have the scale and expertise to deliver value. We are delighted to see the Lakeland Leisure Estate team take the Marina forward, ensuring the asset is managed by a specialist in the sector.”

Deganwy Marina occupies a scenic location facing 13th century Conwy Castle and Snowdonia National Park across the Conwy Estuary. It is equipped with 165 pontoon berths, a modern marina building with showroom, offices and on-shore facilities, an automatic tidal gate, dry stack area and car parking. Adjoining the Marina is the 4 star Quay Hotel and Spa.

Jones Peckover and Vail Williams were joint agents on the sale.

Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

The Welsh Rugby Union Limited, Welsh Rugby Union Group