The Marine & Property Group - Case Update

A new company has been formed to acquire a number of marinas in Wales and the South West from Cardiff-based The Marine & Property Group, which fell into administration last year.

Christopher Lewis and Damian Webb of RSM were appointed joint administrators of the company (whose marina interests include those in Cardiff, Burry Port, Aberystwyth and Port Dinorwic) on 25 April 2023 after the company was adversely impacted by the Covid pandemic and inflation. The joint administrators continued to operate the business while looking for a purchaser.

Now, a new company set up by a new management team and their funders, Trevally Capital, in conjunction with Harwood Private Capital and funding arranged by Trevally Capital Adviser, has agreed to acquire Cardiff Marina, the operating lease for Watchet Marina, and take on a management contract for Aberystwyth Marina. A team of professionals from Womble Bond Dickinson, led by finance and investment partner Will Fraser, advised the purchaser on the deal.

The joint administrators have been assisted by TLT and Hilco. Their most recent report (filed in June) can be found HERE.