Premier Marinas for sale priced at ‘around £220m’

Black Rock UK Property Fund has confirmed that Premier Marinas is up for sale, with an asking price in the region of £220 million

One of the UK’s largest marina chains is up for sale, after its owner announced that it is looking for a buyer.

Premier Marinas has been priced at “around £220m” by Black Rock UK Property Fund, who have appointed investment bank Lazard to handle the sale.

Black Rock said in a statement: “The business plan for Premier Marinas has reached a stage which makes a sale optimal.

“This is combined with strong capital market conditions and future platform growth opportunities which cannot be taken by the fund due to weighting constraints, and an inability to invest outside the UK.”

Premier Marinas owns and operates eight locations on the south coast of England, including the 1,550-berth Brighton marina (pictured above).

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The chain, which was founded in 1994, is in the middle of carrying out £5.8m of upgrade work at its Swanwick marina, which is currently on schedule to be completed in March 2015.