Camper & Nicholsons Marinas signs Isle of Wight agreement

Camper & Nicholsons Marinas Limited has signed an agreement for the development of a 400-berth marina at Victoria Quay in East Cowes, Isle of Wight

Once completed, the marina will offer superyachts at the smaller end of the spectrum the chance to base themselves in the UK. Sean Purdy, marketing director at Camper & Nicholsons Marinas, revealed the berths would range from approximately 10m to a maximum of 30m or 35m. With superyachts being classified as 30m and upwards, this just falls into the category of a superyacht marina.

The agreement has been signed with the Camper & Nicholsons Marinas’ landside partner Westcourt Real Estate (Europe) Ltd (WREE) and the Homes and Communities Agency (HCA). The agreement is subject to a number of conditions, including funding, planning and building. In addition, the exchange of financial contracts relating to the development is subject to the incorporation and financing of an investing company within the next 45 days which, it is anticipated, will engage a development company with which Camper & Nicholsons Marina Investments Limited (CNMI) will have a vested interest.

The marina in the Isle of Wight will be able to provide berths for superyachts up to between 30m and 35m

Purdy confirmed that talks with an investing company are ongoing. “We will definitely tell a great deal more when the 45 days are up, if not before,” he said.

The marina’s 26,000m² site will include a boutique hotel and a range of residential, commercial and leisure facilities, and will be situated within the same site that is home to the Columbine building and Victoria Barracks.

Development is likely to start later in 2015, though there are a number of considerations to be taken into account that could delay the first stages of construction. “Development is contingent on several things. Obviously getting the financial and corporate structure in place, but also the outbreak of water in Cowes needs to be completed. We’re not involved with that project, but we’re dependent to some extent on that completing, which should be fine,” explained Purdy. “There is also a very large dredging task, and until that’s in hand we won’t know exactly when we can start putting in poles and pontoons.”

With these variables in mind, Purdy told SuperyachtNews.com there is an estimated completion date of 2017.

Once the 45 days is up, within which the incorporation of a financing and investment company should be confirmed, Camper & Nicholsons Marinas will be able to provide more information on the marina project, which will be the company’s first since the 2013 restructuring of the company.

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