Warwickshire canal marina sells for £1.1m
By James Smith
10th Feb 2024 | Local News
An 85-berth canal marina in South Warwickshire was snapped up for £1.1 million before it could go under the hammer.
Fenny Marina was due to be auctioned with Bond Wolfe this week, but was instead sold for £150,000 above its guide price some 24 hours before the live auction.
Family-owned boat builders Crafted Boats ltd has taken over the site, which sits on the southern arm of the Oxford Canal at Station Fields.
The marina has 85 boat berths, a three-bedroomed bungalow and extensive outbuildings.
James Mattin, managing director and auctioneer at Bond Wolfe, said: "It was a pleasure acting for our client for whom we have successfully sold the marina.
"He can look forward to a well-earned rest after many years ownership and we are very pleased for the purchasers Crafted Boats Ltd, the ideal party to take the marina on to the next level.
"This is a perfect example of our unique hybrid open market and auction offering working in tandem.
"Our comprehensive marketing campaign coupled with the target of a specific auction date focused the minds of seriously interested parties, resulting in a pre-auction sale for well over the guide price."
Fenny Marina is an established inland waterway marina originally developed in the 1970s with various income streams and the prospect of more if the business is developed.
The dry dock is a separate business that pays £1,250 in rent per month to the marina, with additional income from diesel, LPG, pump-out, waste disposal and chandlery sales.
Nub News previously wrote about the marina in October 2022, when it was on the market for £1.35 million with Avison Young.
Aaron Pinder, director of Bromsgrove-based Crafted Boats Ltd, said: "We want to thank James for all his help and time, as we don't think this would have happened without him.
"Our plan for the marina is to continue to operate the mooring and services but to look at improving the facility.
" We will also be offering, as we do at our other sites, repaint jobs, hull and top side work, grit blasting and epoxy coating, pressure wash and blacking, plus engine repairs, to name just a few of our services."
The entire property extends to around 6.12 acres, while the marina basin itself taking up approximately 4.46 acres with direct access to the canal and a fixed, serviced pontoon mooring.
The detached and extended three-bedroomed bungalow that comes with the sale has a rear garden and spacious area at the front, with a hallway, kitchen, reception room, utility area, bathroom and bedrooms inside.