-red-outline.jpg "Cove Marina")
CHALLENGE
The vendor's father originally acquired the land in the 1950s and the vendor had been operating the marina on an owner managed basis for 23 years. He now wished to retire and therefore instructed Savills to offer the property for sale.
SOLUTION
Savills recommended that the property should be offered for sale on the open market, with the production of high quality sale particulars and an online data room containing additional detailed information. A cost effective marketing campaign was prepared comprising internet advertising on Savills and other relevant websites, circulation of a press release to Savills local and national press contacts and target mailing to Savills Leisure extensive database of parties looking to acquire property in the marina sector.
RESULTS
The property was launched to the market at the beginning of February 2021, and although this was during a period of lockdown as a result of the Covid pandemic, the marketing campaign generated a strong response. A closing date was therefore set for the submission of bids on 29 April 2021, which resulted in several offers. Heads of Terms were entered into with the preferred purchaser and a sale was concluded at the end of October to Horning Pleasurecraft Ltd, who already operated a marina and small hire fleet in Horning.
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