Salamanca Capital Investments, the Mayfair based investment advisory business and part of the Salamanca Group, has announced Salamanca’s acquisition of Barcelona Marina. Known locally as Marina Port Vell, the Marina dominates the heart of Barcelona. Salamanca has acquired the Marina from Global Via whose parent company, FCC, is one of Spain’s largest construction companies; it is understood that FCC is in the process of disposing of a number of non-core assets.
Salamanca will work with the Spanish Port Authority to turn the Marina into Europe’s pre-eminent Super Yacht Base. Marina Port Vell will become home to some of the world’s largest privately owned yachts, with some berths catering for vessels of up to 185 metres.
Martin Bellamy, Group Chairman and CEO of Salamanca commented "Barcelona is one of the world’s most exciting cities and Port Vell is at its heart. This is a unique opportunity to turn the Marina into Europe’s most exciting mega yacht destination and in doing so add to the vibrancy of the city". Uri Nachoom, Executive Director of Salamanca Group, explains the Group´s strategy for the Marina; “Currently the Marina is home to some 400 boats; in due course, through design optimisation, this will include more than 45 super yachts of more than 50 metres in length”.
The deal follows a series of acquisitions by Salamanca in Brazil and China in the Real Estate and Mining sectors. The Group is also set to announce the launch of its Maritime Services Business that will further support Marina Port Vell and offer a wide range of marine related services globally. Bellamy added "Marina Port Vell fits well with the Groups focus on acquiring asset backed opportunities with significant value enhancement possibilities".
"We absolutely believe in Barcelona and we are convinced that luxury yachting is a growth business. Not only is Barcelona ideally situated for access to the playgrounds of Europe, the Marina is well protected and Barcelona has the infrastructure and interest to attract boat owners and their crews. We hope to rival the best Marina’s in the world. While Monaco has an established reputation we believe Barcelona has even more to offer".
Redevelopment of the Marina will commence in the autumn and will be complete by Mid-2011.