Willowtree Marina, West Quay Drive, Yeading
Prime location, Grand Union Canal Paddington Arm, West London
Canal side services wharf, large yard and car park
Sold Freehold as a going concern
Leasehold & Freehold Case Study - Canal & River Trust
85
berth marina, 2 connected basins
8,135
sq ft
marina building with restaurant, chandlery and workshop
Challenge
Vail Williams was appointed by longstanding client, Canal & River Trust, to provide expert advice to maximise the freehold value of Willowtree Marina in Yeading, Hayes.
The marina was leased to Willowtree Marine Limited, the directors of which wished to retire.
The leasehold structure compromised both the existing leasehold and freehold values, so our marine and leisure expert, Ian Froome, was appointed to help both parties achieve the best possible outcome from the sale of the investment.
How we helped
- Ian worked with both our client and the directors of Willowtree Marine, to understand their respective objectives.
- Working closely with both parties, a mutually beneficial agreement was reached with the landlord and tenant, which would see both freeholder and leaseholder benefit from the marina’s sale.
- Drawing on our expert knowledge of the marine and leisure sector, we secured interest from a variety of investors and operators.
- This enabled a range of interests to be explored, without going to open market, retaining confidentiality and resulting in an agreed sale to Sorbon Estates.
- To ensure a smooth transaction, we oversaw the due diligence process through to successful completion.
We are delighted with the outcome and very much appreciated the guidance, market knowledge and innovative solution that Vail Williams was able to bring to this transaction, which helped to ensure a positive outcome for all concerned, in spite of the complex nature of the deal.
Gareth Stephens, Head of Business Boating and Waterside Moorings, Canal & River Trust.
Results
- Vail Williams’ marine and leisure sector knowledge and experience secured the freehold sale of the marina to Sorbon Estates and a mutually positive outcome for both vendors and purchaser.
Our thanks go out to Ian Froome of Vail Williams, for working collaboratively to ensure a smooth transaction process throughout this transaction.”
Mark Allaway, Director, Sorbon Estates.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
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