st olaves | great yarmouth | norfolk | nr31 9hx

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ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

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Page 1: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

Page 2: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

Great Yarmouth 6.5 miles • Lowestoft 7.5 miles • Norwich 17 miles(all distances are approximate)

A Well-Established Marina

and Commercial Boatyard with

Considerable Development Potential

SUMM ARY OF FACILIT IES• Main site extending to approximately 4.87 hectares (12.04 acres)

• Family run marina based on the River Waveney and in the picturesque Norfolk Broads, with coastal access close by

• Three pontoons providing 144 berths with water, electricity and swipe-card entry. It is believed that it can accommodate in excess of 150 boats

• Main office and reception area, a secondary office building, shower/toilet block and temporary workshop with capacity for a single 38ft vessel

• Travel lift with 50 tonne capacity and dock facility accommodating boats up to 70ft by 18ft

• Additional stretch of moorings along the New Cut for boats over 12.5 metres, total mooring length 250m comprising 130m new steel piles and 120m old timber piles extending to approximately 0.10 hectares (0.26 acres)

• Further parcel of land adjacent to the New Cut, extending to approximately 0.97 hectares (2.41 acres)

ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

Page 3: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

BACKGROUNDFamily owned and managed, St Olaves Marina has seen considerable change over the previous twenty years. Following acquisition of the site in 1996, the current owners have operated the business and overseen a period of expansion to create an attractive and profitable marina.

LOCATION AND SITUATIONLocated in the county of Norfolk, the village of St Olaves is situated between the market town of Beccles and the coastal town of Great Yarmouth. St Olaves Marina is situated at the confluence of the River Waveney and the Haddiscoe New Cut, immediately adjacent to the substantial modern road bridge that takes the A143 over the Haddiscoe

New Cut. The Haddiscoe New Cut was completed in 1833 and is now owned and managed by the Environment Agency.

Road communications are good via the A143 to the regional towns of Great Yarmouth and Bury St Edmunds. Norwich, the nearest city is also easily accessible by road via the A143 and A146. The nearest train station is Haddiscoe, circa 1 mile from the marina. A larger station, Beccles, is circa 7.5 miles from the site.

The marina occupies an attractive rural setting surrounded by the open countryside of The Broads National Park and adjoining the village of St Olaves.

Page 4: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

DESCR IPTIONSt Olaves Marina is one of the largest marinas situated in the southern half of the Norfolk Broads. Triangular in shape it is bounded on two sides by water, the River Waveney and the Haddiscoe New Cut, and on the third the A143. The total site area extends to circa 5.95 hectares (14.95 acres).

Access to the site is provided via two entrances on to public highways, a trade entrance directly on to the A143 and a customer entrance from the old Haddiscoe Road.

The property comprises a marina basin with 144 berths together with a main office and reception area constructed of weather board clad walls under a clay tile roof, a secondary office in a prefabricated building, a temporary workshop with capacity for a single 38ft vessel and a shower/toilet block constructed of weather board elevations under a steel sheet roof, comprising male, female, disabled and staff facilities.

In addition to this, there are various car parking areas, a boat storage area and a hardcore surfaced area under St Olaves flyover licenced from Norfolk Highways.

Page 5: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX
Page 6: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

THE BUSINESSSince acquiring the property in 1996, the owners have undertaken considerable development, increasing the number of berths and improving facilities to increase the potential returns of the marina.

Income derived from the marina business over the last three years ending 31st March 2016, net of VAT is summarised below: -

Year ending 31 March

2016 (£) 2015 (£) 2014 (£)

Turnover 447,163 437,074 350,947EBITDA 117,785 145,602 85,291

Additional income is generated from boat brokerage. Anglia Yacht Brokers Ltd currently charge 4% commission (minimum £750 plus VAT fee) but are looking to raise this to a 6% commission. Anglia Yacht Brokers Ltd is a separate limited company run by the directors of St Olaves Marina, available by separate negotiation.

MooringsThe marina achieves a high level of occupancy and in August 2016 was operating at circa 80% capacity. Each berth has a floating pontoon with water and electricity supply. Storage fees are £10.40 a metre per month including VAT and boat lifting charges range from £14.85 per metre (minimum charge £100) to £26 per metre depending on the level of boat yard service required.

The marina berthing fees for 2016/17 are:-

Annually £215/metre/year inc. VAT (chargeable min 6.5m)

Monthly £34/metre/year inc. VAT (chargeable min 6.5m)

Mooring is also available on the New Cut for boats over 12.50 metres at £155 per metre per year including VAT.

The marina basin is accessed via coded entrance barrier and the three pontoons provide the following mooring facilities:

• Eastern pontoon – smaller vessels • Central pontoon – medium sized vessels• Western pontoon – larger vessels

Whilst already providing stable ongoing mooring income, the property affords a new owner the opportunity to grow the business further by boat sales and repairs, further moorings, storage and possibly developing holiday lodge accommodation.

SERV ICESWater – Office is connected to mains water supply.

Electricity (three phase) – Mains electricity supplied from substation adjacent to A143.

Sewerage - Recently installed private sewage tank for the toilet and shower block which is emptied every fortnight over the summer months.

FIXTURES, F ITTINGS AND EQUIPMENTA summary of fixtures, fittings and equipment, whether leased or owned outright, is included in an online data room.

TOWN AND COUNTRY PL ANNINGThe property lies within the jurisdiction of South Norfolk District Council: - www.south-norfolk.gov.uk

In 1996 planning permission was granted to change the use of the adjacent land to incorporate it into the marina.

In 2001 planning permission was granted to extend the mooring basin, create a new access onto the New Cut (and closure of the original access). This permission also included erection of a boat shed to provide a workshop, offices and a managers flat, which has not been constructed and could be developed at a later date. This planning permission was subject to a Section 106 agreement which states that the number of private moorings in the new basin area is to not exceed 80 at any one time. It also required two mooring spaces east and two west of the A143 road to be provided along the New Cut to enable unpowered yachts to raise and lower their masts, which have now been constructed.

There may be potential for development of further moorings along the River Waveney frontage, subject to obtaining the necessary planning permission.

BUSINESS R ATESThe current rateable value of the property is £18,800, giving rise to rates payable of £9,344 for the year ending 2017.

TENURE AND BASIS OF SALEThe property is held freehold.

A licence agreement is in place for an area of land under the Haddiscoe Bridge.

Vacant possession will be granted on completion of the sale, subject to existing mooring licence agreements.

R IGHTS OF WAYA public footpath runs under the New Haddiscoe Bridge north west along the owned land adjacent to the New Cut.

Page 7: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

TUPEPurchasers will be required to comply with the relevant legislation in respect of current employees.

VATShould the sale of the property or any right attached to it be deemed a chargeable supply for the purpose of VAT, such tax shall be payable by a purchaser in addition to the sale price.

ENERGY PERFOR M ANCE CERTIFICATESFull copies of the Energy Performance Certificates are available on request or alternatively can be viewed on the online data room.

FURTHER INFOR M ATION AND V IEWINGSAn online data room providing detailed information in relation to the property and business is available to seriously interested parties, subject to signature of a confidentiality agreement.

Viewings are to be undertaken strictly by appointment through the selling agents, in order to avoid disruption to the business or intrusion upon occupiers of the marina.

For further information or to arrange a viewing, please contact Savills, Wytham Court, 11 West Way, Oxford, OX2 0QL:-

Contact: Kay Griffiths Contact: Phil Rankin+44 (0)1865 269109 +44 (0)1473 234804+44 (0)7870 999485 +44 (0)7807 [email protected] [email protected]

Contact: Gina Cole+44 (0)1865 269046+44 (0)7772 [email protected]

Office – Energy Performance Asset Rating Portacabin Office – Energy Performance Asset Rating Workshop – Energy Performance Asset Rating Toilet Block – Energy Performance Asset Rating

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Ordnance Survey © Crown Copyright 2016. All rights reserved. Licence number 100022432. Plotted Scale - 1:2500

This Plan is based upon the Ordnance Survey Map with the sanction of the Controller of H.M. Stationery Office. Crown Copyright reserved. (100024244). This Plan is published for the convenience of Purchasers only. Its accuracy is not guaranteed and it is expressly excluded from any contract. NOT TO SCALE.

Page 8: ST OLAVES | GREAT YARMOUTH | NORFOLK | NR31 9HX

Savills Leisure Wytham Court 11 West Way Oxford OX2 0QL

savills.co.uk

DIRECTIONSThe postcode for the property is NR31 9HX.

Approaching St Olaves from the North East, via the A143, follow Beccles Road over the River Waveney and take the second left turn into the marina entrance.

This Plan is based upon the Ordnance Survey Map with the sanction of the Controller of H.M. Stationery Office. Crown Copyright reserved. (100024244). This Plan is published for the convenience of Purchasers only. Its accuracy is not guaranteed and it is expressly excluded from any contract. NOT TO SCALE.

IMPORTANT NOTICE Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Photographs taken September and October 2016 Sale particulars prepared October 2016

This Plan is based upon the Ordnance Survey Map with the sanction of the Controller of H.M. Stationery Office. Crown Copyright reserved. (100024244). This Plan is published for the convenience of Purchasers only. Its accuracy is not guaranteed and it is expressly excluded from any contract. NOT TO SCALE.

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