3 days ago
- Business
- The Herald Scotland
Difficult decision as family sells historic Scottish marina
Christie & Co handled the confidential sale of the Holy Loch Marina for the Downs family following the death of their father, Matthew
The agent said that, located on the Cowal Peninsula on the Firth of Clyde in Argyll, Holy Loch Marina sits at the gateway to the West of Scotland and the Western Isles.
The agent said: 'In the late 1800s, it was originally the location of two local boat builders, including Morris & Lorimer, and later it was utilised as a submarine base during World War II. It has since been transformed into a modern-day marina and key boating destination, catering for sailing enthusiasts from all over Scotland, the UK and beyond.
'In addition to the traditional berthing and hard standing facilities, the marina also works closely with the Scottish Forestry Commission with the TimberLINK project, providing a logging transportation service for cargo vessels.'
Following a sales process with Mark Lavery at Christie & Co, Holy Loch Marina has been purchased by Tingdene Group, growing its national marine portfolio to 12 sites across the UK.
The move marks the company's first expansion into Scottish waters, 'significantly broadening' the group's national footprint.
'Holy Loch Marina is a natural and welcome addition to our growing marina portfolio,' said Ian Collier, managing director of Tingdene Group. 'Its stunning location, established reputation, and strong berth holder community make it an ideal fit for the group. We're excited to continue the great work already happening here.'
The agent said that 'the marina has been sold by the Downs family, who, after the passing of their father Matthew, made the difficult decision to hand over the reins to a new operator who could fulfil his dreams and aspirations for the marina going forward'.
The agent said the marina has been sold by the Downs family, who, after the death of their father, Matthew, 'made the difficult decision to hand over the reins to a new operator who could fulfil his dreams and aspirations for the marina going forward'.
Former co-owner Alison said: 'Having taken over the reins from our father in recent years, my brother Stuart and I felt that it was time to move the business onto a group with a strong portfolio who would be capable of taking the marina to the next level. I have no doubt that Tingdene Group will be successful in this.'
Tingdene said it recognises the potential for further development at the site and is exploring ways to enhance and expand the facilities 'in line with customer needs and the unique character' of the location.
'At the heart of every successful marina is a strong sense of community, and Holy Loch Marina is a shining example of that,' said Steve Arber, operations director at Tingdene Marinas. 'We're incredibly proud to become part of this well-established boating family and deeply respectful of the legacy built here over the past 25 years.'
Mr Lavery, associate director at Christie & Co, who managed the sale process, said: 'We were instructed on a confidential basis to sell Holy Loch Marina. Following a sale process, we quickly identified a suitable buyer who aligned with the seller's ethos and hopes for the future of the marina. We are delighted to see Tingdene Group take on this asset and are confident it will thrive under their ownership.'
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