Another 30 metre berth sale at Grand Harbour Marina
Thursday, 6 October 2011
Camper & Nicholsons Marinas has announced the second sale in 2011 of a 30m berth at its flagship, Grand Harbour Marina, Malta. Concluding the sale during the Monaco Yacht Show, the UK-based buyer cited Malta’s unique package of benefits as the reason behind the purchase, including its central Mediterranean location, high-quality facilities, extensive yacht-support services, availability of berths for sale – and numerous financial advantages.
Kurt Fraser, Sales & Marketing Director for C&N Marinas commented, “Malta’s Grand Harbour Marina has clearly established itself as a destination of choice, not only for superyacht owners, but for captains and crew. The package of strong financial, tax and operating benefits have certainly underpinned recent berth purchase decisions. But it's the exceptional year-round weather, natural beauty, historic architecture, rich culture and comfortable Mediterranean lifestyle that has visiting superyachts returning for more, with owners acquiring a berth.”
Berth owners benefit from rises in marina occupancy through a 60% share of any sub-leasing income. From an investment perspective, the selling price for superyacht berths at Grand Harbour Marina has risen from €500 per square metre in 2003 to the current price of €2,020 per square metre, quadrupling in value over an eight year period.
The Maltese government’s efforts to develop the superyacht industry have seen the island embrace a ‘superyacht friendly’ policy which has proved successful in establishing Malta as a destination and home-port of choice for owners and captains. Supported by many yacht-related businesses from yacht financing and registration, to residency and tax support, Malta is becoming a unique one-stop-shop for financially astute yacht owners. Another of Malta’s key strengths when it comes to berth sales is that the contract is in the form of a deed which provides the owner with a definitive right of ownership for the duration of the contract as opposed to that of a long term lessee.
Fraser added, “For the first time, berths at Camper & Nicholsons’ Grand Harbour Marina are being made available as part of a comprehensive package of benefits to yacht owners. In close partnership with Malta-based industry experts, we are bundling the acquisition of a berth together with yacht finance, registry and Maltese residency services. In addition, berths purchased may be financed up to five years, with packages custom-designed to suit the individual needs of yacht owners.”